The iron ore concentrate price of 66% experienced an increase of more than 9.3 in February 2019 as a result of the incident that occurred for Vale, Brazil. An increase in the price of iron ore and iron ore concentrates at the same time as the incident of Brazil’s Vale Corporation, due to the progress of the China-US talks, and the US Federal Reserve’s shift in US dollar growth, intensified.
Significant improvements in iron ore concentrate price and all steel products in February 2019. As we stated at the beginning of the article, the reason for the growth of prices is the occurrence of three events in the global market, which we re-list below:
- Brazil’s Vale dam damming event. The company is one of the largest producers and exporters of iron ore in the world.
- Negotiations between China and the United States on the trade war between the two countries have progressed this month, which, in turn, has boosted the purchase of steel raw materials as well as the final steel products.
- The US Federal Reserve changed its path in the growth of interest, which reduced the risk and tangible growth of stock indices. This has exacerbated the rise in prices.
Weekly change in the steel and iron ore concentrate price
Iron ore concentrate 66%, up by 9.3%, delivery of cfr is about $ 103 on March 1, 2019 in the global index of mineral products prices. Also, the price of iron ore 58% experienced a 12.1% growth per week and was about $ 67.97 a cfr from China. At the same time as prices in world markets increased, we saw a positive price fluctuation in Iran’s iron ore concentrate, as well as iron and iron ore pelleted prices in Bandar Abbas.
China iron ore market latest news
The latest deliveries of the steel industry market and the fluctuation of the price of slabs and billet, iron scrap and Iran’s steel products prices FOB Bandar Abbas Please see the following articles.
Article 1: Iron ore market news in the early days of 2019
Article 2: Global price for steel slabs and billet
Article 3: Iran iron ore fob price
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