mid year rally
The concentrated purchases in a concentrated period squeezed domestic iron ore miners' margins, pushing some of them out of business. Then steel mills had to buy imports," Liu said.
Already spot iron ore prices are quoted below Chinese local prices because of falling freight rates and rising domestic mining costs, forcing around 70 percent of China's mining capacity out of operation.
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$42.99 |
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0.390(0.92%) |
Mkt cap ! $218.1B | |||
| Open | High | Low | Value | Volume |
| $42.69 | $43.23 | $42.51 | $238.2M | 5.552M |
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| No. | Vol. | Price($) |
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| 1 | 14181 | $42.97 |
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| Price($) | Vol. | No. |
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| $42.99 | 11812 | 1 |
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