International Steel Prices
March 8, 2016
China Iron Ore/Steel Markets Surging
Written by John Packard
In Sunday evening’s issue of Steel Market Update we warned our readers that something was happening in China that could impact US steel prices. We have been working on this project ever since and this is what we have learned from multiple sources around the world:
Iron ore and steel prices are surging in China. Iron ore prices jumped 19.5 percent in one day as 62% Fe fines CFR Tianjin Port (China) rose to $62.6 per dry metric ton (dmt) according to The Steel Index. TSI reported on Monday morning, “A manic start to the week as buying frenzy gripped the iron ore market following bumper gains in Chinese steel prices over the weekend on news of drastic production curtailments.”
