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China's Re-stock Sending Iron Ore Prices Higher - Inventories have been held at low levels for some months now, but the increasing pace of China’s infrastructure based projects is seen as a positive driver on pricing - CokingCoal.net
China's Re-stock Sending Iron Ore Prices Higher

 

NewswireToday - /newswire/ - Hinckley, Leicestershire, United Kingdom, 2012/10/29 - Inventories have been held at low levels for some months now, but the increasing pace of China’s infrastructure based projects is seen as a positive driver on pricing - CokingCoal.net.

   
 
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“The destocking of raw materials by Chinese steel mills is over” according to Don Croucher, Senior Consultant at C&G Consulting. “Since hitting a three-year low in September this year, Iron Ore prices have steadily been improving, and recently eclipsed $120.50 per MT for 62% Fe”, according to Croucher.

With inventories held at low levels for some months now, buying has been increasing to satisfy new demand. The pace of China’s infrastructure based projects quickened in the third quarter of the year, as funding was released from regional governments. New projects have been recovering and rose 25.7 per cent, year on year, for the first nine months of 2012.

Prices are widely anticipated to rise as high as $150 per MT in the coming weeks. As the much talked of government backed infrastructure spend starts to kick-in, coupled with the widely recognised need to restock, a positive driver seems to have taken hold on the pricing of the commodity.

Demand elsewhere for iron ore is also expected to improve in the year ahead, as a direct result of better growth projections in many emerging economies, such as Brazil, India and South-East Asia in 2013. This paves the way for increased asset purchasing in areas like Latin America, where small sites can still be acquired for a modest investment, giving end-users more control on future price volatility. Further information about properties for sale can be viewed at cokingcoal.net.

Coking coal has yet to respond to this move but expectations are that the decoupling seen in pricing will be short lived. India needs to maintain imports for the foreseeable future in order to deliver on its own infrastructure projects. Although traditionally, India has looked towards Australia for supply, with many mines there at capacity, buyers are increasingly eyeing assets in North American and Colombia. END

 
 
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Written by / Agency / Source: CokingCoal / GenLife Ltd

 
 

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China's Re-stock Sending Iron Ore Prices Higher

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Publisher Contact: Don Croucher - GenLifeLtd.com 
+49 175156205 mail[.]genlifeltd.com
 
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