While the furor over the iron ore continues Korea’s iron ore importing prices keep going upward increasing woes over a short supply ahead. The forecast that China’s iron ore consumption also will be expanded forces the bullish market. The iron ore prices approach a five-year high breaking off $110 a ton level, even though coming back to $100 a ton, but moving again to the peak.
The cash official strength directly affects the Korean iron ore importing prices, sharply pulling up since March by $78 a ton compared to the last quarter of 2018. The result was to break through $81 a ton in terms of average March importing prices coupled with the collapse accidents of Brazil tailing dams. Entering into the second quarter, however, the importing prices registered higher level of $87 a ton, averaging $87 a ton on average between April and May.
Throughout the year to date, the Korean iron ore importing prices inflated even 10 percent from the last year of $74 to $82.2 a ton. If the current trends continue ahead, the Korean iron ore importing prices are very likely to keep up the upward trends for a while onward. Korea’s iron ore importing prices rose highly in early 2014 exceeding $130 a ton, but touched the bottom of $89 in January 2015. The lately imported prices keep up a five-year high.
Source: Steel&Metal News |
