2011 global spot iron ore prices are expected to new highs(2/9/2011)

Recently, the price of steel and steel index (information supplier TheSteelIndex), managing director, said SteveRandall 2011 global spot iron ore all valence is expected to reach record highs, refresh 2008 on surging commodity prices amid a set of former record levels.��

The market is expected to 2011 in China delivery 62% of iron ore limestone ore grade average prices will spot from 2010 to 146.70 dollars per ton per ton 153-154 dollars.

Randall said, the above 2011 spot iron ore expected all valence will transcend 2008 slightly below the average price of $150 per ton. In the last round of commodity prices, spot iron ore prices in March 2008 broke the $200 per ton, hitting record highs, but later in the year by the global financial crisis, thus impact dropped down the average price of 2008.��

Randall said, pushing up prices this year is the important factor of steel output rose and steel prices, The next few months Chinese steel production will be more robust. In other parts of the world steel businesses are still recovering from the crisis, productivity has not recovered to 2007-2008 period level. In the U.S., steel enterprises were struggling to push the high price of steel.

International steel association shows that, by 2010 November global crude steel output 5.1 per cent year-on-year to 1.14 million tons, but still low by historical standards that are still further steel production decline in space.

(Author Mosaic and Tile, China Leiyuan 2/9/2011)

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