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Iron ore price, page-31654

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paulb1

4,782 Posts.

24

14/05/21

10:52

Post #: 53172983
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Originally posted by street professor ↑

That's a good article, 90% of China's steelmaking capacity is BOF(blast furnace using IO) which means the steelworks is a continuous process, so if the blast furnace stops operation, all the plants that use the molten iron from the blast furnace need to cease their operation as well, meaning that the whole steelworks would have to be shut down. If you stop a blast furnace for an extended period the costs are significant and plenty of money involved in starting it again.

EAF(electric arc using 100% scrap) can be stopped and started anytime, most of these stop for a maintenance down day once a week. The one at Rooty Hill shut for 6 months during the GFC due to the downturn, during extreme heat energy suppliers use to ask the Rooty Hill operations not to make steel due to pressure on the energy grid.

China can slow their blast furnaces which is 90% of their capacity but can't stop them, why would you anyway when steelmakers are generating record profits ?

There is nothing to fear about a strong IO price going forward unless there is another plandemic, conflict or world's bankers decide to raise interest rates significantly.

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And this old f..t doesn't know what a plandemic is but I don't want it.

FMG Price at posting: $23.56 Sentiment: Hold Disclosure: Held
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Last $19.54		Change -0.370(1.86%)		Mkt cap ! $60.16B

Open	High	Low	Value	Volume
$19.52	$19.75	$19.29	$225.1M	11.80M

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No.	Vol.	Price($)
1	2000	$19.52

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Price($)	Vol.	No.
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No.	Vol.	Price($)
1	2000	19.520
1	1000	19.500
3	7100	19.490
1	2000	19.460
3	2150	19.450

Price($)	Vol.	No.
19.550	2864	2
19.570	2257	1
19.580	5742	2
19.650	147	1
19.700	3000	2

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