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International Steel Mineral Materials Prices Rise Followed By Wire Price Going Up

2010-12-13

The National Business Daily reports that parts of Japanese steel enterprises have achieved an agreement with the largest global iron ore company, CVRD, on 2011 Q1 iron ore price, it is predicted that the Q1 iron ore price will rise from US$126/ton to US$135/ton, increasing up 7%. Many figures of Chinese steel companies say although Chinese steel factories don’t get a conclusion yet from negotiating with the 3 large mining companies, taking the feature of present pricing model into consideration, 2011 Q1 iron ore agreement price should show few differences from the price increasing mentioned above. The Baosteel Group Corporation increase the next January’s wire price around RMB$100~200 while CSC is expected to raise the next March’s wire offering price as well.