Iron ore prices fell to a low of nearly five and a half years
2015-02-03 16:42:57 COMMENT：0 HITS：
Spot iron ore prices fell to nearly five and a half years low, the blame on the Chinese rich supply and weak demand for steel, as well as the second largest economy in the world economy in 2015 will likely remain confined.
Last Thursday (1.22), before purchasing a stimulus plan details released at the European central bank bonds, China iron ore futures prices briefly fell more than 2%, fall along with crude oil and copper and other commodity prices.
Chinese is the world's largest crude steel market, the consumption of crude steel last year reduced by 3.4% to 7.383 tonnes, because China economic growth record the slowest rate in 24 years.
Li Keqiang said Prime Minister last Wednesday slowdown in economic growth, Chinese reflects broader global situation, and promised, he will continue to push forward major reforms, in order to improve the prospects for economic growth.
Wednesday (1.21), British Steel Index (The Steel Index) according to data compiled by the Chinese, Tianjin Port (600717, shares) port for prompt delivery of iron ore prices fell 1.3% to US $66.50 / ton.
In December 23, 2014, the steel material price is $65.6 / ton, the lowest level in 2009 since June. The above price and the price difference of less than $1. Last Thursday, in the global iron ore trading platform, 100000 tons of Australia's Pilbara iron ore (grade 62%) sale price of US $66.8 / ton, lower than the same grade of iron ore last week sale price of $68.9 / ton.
In Chinese, steel market weakness has prompted producers to reduce iron ore inventory. Last Thursday, at the Shanghai futures exchange, the most actively traded steel futures contract fell as much as 2460 yuan ($396), not much higher than the November hit a historic low of 2417 yuan. Some local traders in Singapore said: "miserable steel profits will lead to Chinese small steel mills hit, especially in the light of the current state of the credit crunch, they almost have no much money can be used to deal with the losses." Traders said, because the supply of high China, large private Steel Corp Shagang Group will in January the last 10 days of the rebar futures prices by 120 yuan. In Dalian Commodity Exchange, the May delivery of iron ore prices fell 1.8%, reported 487 yuan / ton; previously, iron ore prices hit an intraday low of 484 yuan / ton. Because of the global economic slowdown, the standard & Poor's rating agency last Wednesday cut its forecast for 2015 and 2016 iron ore prices from 85 U. S. dollars / ton down to 65 dollars / ton.
Last Thursday (1.22), before purchasing a stimulus plan details released at the European central bank bonds, China iron ore futures prices briefly fell more than 2%, fall along with crude oil and copper and other commodity prices.
Chinese is the world's largest crude steel market, the consumption of crude steel last year reduced by 3.4% to 7.383 tonnes, because China economic growth record the slowest rate in 24 years.
Li Keqiang said Prime Minister last Wednesday slowdown in economic growth, Chinese reflects broader global situation, and promised, he will continue to push forward major reforms, in order to improve the prospects for economic growth.
Wednesday (1.21), British Steel Index (The Steel Index) according to data compiled by the Chinese, Tianjin Port (600717, shares) port for prompt delivery of iron ore prices fell 1.3% to US $66.50 / ton.
In December 23, 2014, the steel material price is $65.6 / ton, the lowest level in 2009 since June. The above price and the price difference of less than $1. Last Thursday, in the global iron ore trading platform, 100000 tons of Australia's Pilbara iron ore (grade 62%) sale price of US $66.8 / ton, lower than the same grade of iron ore last week sale price of $68.9 / ton.
In Chinese, steel market weakness has prompted producers to reduce iron ore inventory. Last Thursday, at the Shanghai futures exchange, the most actively traded steel futures contract fell as much as 2460 yuan ($396), not much higher than the November hit a historic low of 2417 yuan. Some local traders in Singapore said: "miserable steel profits will lead to Chinese small steel mills hit, especially in the light of the current state of the credit crunch, they almost have no much money can be used to deal with the losses." Traders said, because the supply of high China, large private Steel Corp Shagang Group will in January the last 10 days of the rebar futures prices by 120 yuan. In Dalian Commodity Exchange, the May delivery of iron ore prices fell 1.8%, reported 487 yuan / ton; previously, iron ore prices hit an intraday low of 484 yuan / ton. Because of the global economic slowdown, the standard & Poor's rating agency last Wednesday cut its forecast for 2015 and 2016 iron ore prices from 85 U. S. dollars / ton down to 65 dollars / ton.
previous_pageThe World Bank: this year the main commodity or fell across the board
next_pageIron ore prices fell to a low of nearly five and a half years
