ASX 0.63% $84.27 asx limited

iron ore price hike likely

  1. 22,691 Posts.
    Thanks Miningnews.net

    Iron ore price hike likely

    Monday, January 10, 2005
    IRON ore sellers and buyers go into their third round of price talks this week with indications that a settlement will be in the range of a 25% increase.

    Tips from market observers range from a price hike of 18% to 35% with the consensus falling at the 25% mark, a substantial boost coming on top of last year's 19% increase.

    Optimism that demand for iron ore remains stronger than supply was reinforced late last week with comments from a senior executive of the world's biggest exporter, Brazil's CVRD group.

    Jose Carlos Martin told Reuters that Chinese demand remained strong with demand growth in that market expected to exceed 20%, a forecast which dispels fears of a Chinese slowdown.

    Martin said demand growth in China could be as high as 23%, easily eclipsing last year's 15% growth.

    "I don't see that in the next two to three years we are going to have any kind of relief in Chinese pressure for raw materials," he said.

 
watchlist Created with Sketch. Add ASX (ASX) to my watchlist
(20min delay)
Last
$84.27
Change
-0.530(0.63%)
Mkt cap ! $16.31B
Open High Low Value Volume
$85.89 $85.89 $83.77 $30.52M 361.3K

Buyers (Bids)

No. Vol. Price($)
2 4852 $84.21
 

Sellers (Offers)

Price($) Vol. No.
$84.36 25 1
View Market Depth
Last trade - 16.10pm 13/07/2020 (20 minute delay) ?
(live)
Last
$84.28
  Change
-0.530 ( 0.72 %)
Open High Low Volume
$85.75 $85.75 $83.76 15005
Last updated 15.59pm 13/07/2020 (live) ?
ASX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.