Articles Tagged "Iron Market News"

China Industry Official Sees Iron Staying at $80

Iron – According to Reuters, Li Xinchuang, deputy secretary general of the China Iron and Steel Association, sees iron ore prices hovering around $80 per tonne, calling for slowing growth from China's steel sector. The official saw China steadily producing 800 million tonnes of crude steel per year for the next ten years, putting a limit on its need for iron.

Morgan Stanley Calls for Iron Ore Rebound

Iron – Bloomberg reported that Morgan Stanley is calling for an "end-of-year rally" for iron ore prices. The analysts saw supply closures and rising steel demand as drivers behind a rebound, although they did say that the base metal could fall slightly lower before coming back.

Low Iron Ore Prices Could Soon Cause Closures, Analysts Say

Iron – Reuters reported that iron is set to fall for the fifth week in a row as the surplus continues and China's steel market looks weak. However, Matt Fusarelli, an analyst at AME Group in Sydney saw prices rebounding to "perhaps $95 a tonne towards the end of the year," forecasting production closures and a tightening of supply.

High Spending Days for Iron Are Over

Iron – As iron prices tumble to five-year record lows, The Sydney Morning-Herald is reporting that Australian companies are pulling back from spending vast amounts of money on iron projects. According to The Sydney Morning-Herald: Not even the most optimistic are suggesting that the days of super profits from this industry are set to return. It’s a [...]