As Iron Ore Hits A 7 Week High, A Loo...

As Iron Ore Hits A 7 Week High, A Look At Hedging Steel Makers

There are 1 comment on the Seeking Alpha story from Jan 14, 2012, titled As Iron Ore Hits A 7 Week High, A Look At Hedging Steel Makers. In it, Seeking Alpha reports that:

As the Financial Times reported on Friday, iron ore prices have risen 22.5%, to $143.50 per ton, in the last seven weeks, partly due to severe weather in the two countries responsible for 70% of ore production, Australia and Brazil.

Join the discussion below, or Read more at Seeking Alpha.

Juan Jose del Campo

Spain

#1 Jan 22, 2012
I do not agree with the vision.

Iron Ore Fines 62%Fe Spot CFR Tianjin Port quote at 139,80 USD last Friday January 20th 2012, from a peak of 147,40 USD on November, 18th 2011.

Iron ore price increase will not be sustainable because of two reasons:

1) Though bad weather conditions in Brasil and Australia reduced shipments, a lot of iron ore is deposited in bonded warehouses in China ports waiting for auctions due to low market demand.

2) Mining companies are getting much better operating results than steel industry. Iron ore cost increase can not be passed by steel industry to steel product, as it was one year ago.

Iron ore price will go down. This is my forecast.

Prf. Dr. Juan José del Campo Gorostidi
PhD Materials Science
Universidad de Oviedo
http://profesordelcampo.blogspot.com

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Nucor Discussions

Title Updated Last By Comments
News Welded Tube-Berkeley closes pipe plant next to ... (Aug '12) Jul '15 mkaye 5
News Nucor disputes $52M antitrust verdict (Apr '14) Apr '14 Old man- Bville 1
News Nucor to start hiring effort for St. James plant (Oct '12) Oct '12 Adhe 1
News Wheeling Corrugating status is uncertain (Sep '12) Sep '12 NIKE FU 3
History of the Nucor Corporation (Jul '11) Jul '11 amkotas 1
News Senators call for U.S. steel industry trade relief (Apr '11) Apr '11 stalin 3
Why is Nucor looking to sell its Nuconsteel div... (Mar '11) Mar '11 Curious Investor 1
More from around the web