Please note: The price for TTY iron ore FOB Darwin now greatly exceeds US$100/ton. Just wait till the next announcement !!!! http://steelguru.com/news/index/2008/03/30/NDA2NTI%3D/Guangdong_iron_ore_import_in_2_months_down_by_14.4%252525_YoY.html
Guangdong iron ore import in 2 months down by 14.4% YoY According to data from Guangzhou Customs that Guangdong province imported 1.42 million tonnes of iron ore sand in January to February 208 down by 14.4% YoY. The import value was USD 230 million up by 56.7% YoY and the average import price was USD 163.3 per tonne up by 90.5%.
Guangdong imported 321,000 tons of iron ore from Australia up by 36.9% and taking 22.5% in total import volume.
Experts believe that there are two reasons for the decline of import volume and the hike of import price. 1, Due to strong demand from international iron and steel industry, international supply of iron ore is tight, so the price is rising up continuously. 2. Higher ocean freight also boosts the surge of iron ore import price.
TTY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
