International Steel Mills
November 5, 2015
Asian Ore/Steel Trader Provides View of Chinese Attitudes
Written by John Packard
Steel Market Update asked one of our Asian iron ore and steel trading sources to comment on the recent decline in iron ore prices which recently broke below $50/dmt on 62% Fe fines in China. We also asked for a comment about the recent spat of trade suits and the Chinese mills not cooperating with the U.S. Department of Commerce investigation. Here is what he had to say earlier today:
“Ore prices are going to hit USD40/mt CNF FO “VERY SOON” as Chinese mills are unable to survive on current levels vs the Selling Prices of Steel out of China these days.
