Infograph: Iron ore prices see great volatility
Source: Mysteel
Dec 23, 2020 18:28
As of December 21, China’s price of Q235 4.75mm HRC price assessed by Mysteel had increased to a new high since Mysteel started to assess this price in July 2010 of Yuan 4,994/tonne ($763/t), or up by Yuan 524/t on week.
The sharp gain in the representative iron-ore pricing index relates to Chinese steel demand and to the steel price surges in flat products globally, particularly hot-rolled coil. At the same time, Chinese market concerns about iron ore supply in Q1 – which emerge at this time every year – have also helped to buoy market confidence.
This could explain why iron ore prices have shot up, despite complaints from the China Iron & Steel Association and efforts by the Dalian Commodity Exchange to cool down ‘speculative trading’ in the iron ore market since early December.
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