It seems as though we’re reporting almost weekly that one commodity boom or another is finished. In fact, actual commodity price volatility may not be as volatile as commodity prognostication volatility.
Nevertheless, here’s the latest installment.
ANZ global head of commodities research Mark Pervan told Australian Mining that “the good phase for low-cost companies BHP Billiton, Rio Tinto and Brazil’s Vale have [sic] finished.”
He went on to say, “We have seen a decline in steel prices in China and that is dragging down iron ore prices…even at $US110 to $US120 a tonne there’s little incentive for expanding iron ore production.” The article cited that Citi ”believes large miners should behave in an ‘oligopolistic’ manner by holding back supply when demand is down, instead of selling it on the spot market.”
Current Steel, Iron Ore and Raw Material Prices:
Rising 4.0 percent to close at $130.00 per metric ton, the cash price of steel billet experienced the biggest change on the LME for Friday, May 31. Also on the LME, the 3-month price of steel billet held steady at around $150.00 per metric ton.
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India remained rangebound. Chinese slab closed 0.6 percent lower. Chinese HRC held its value last Friday.
For the fifth consecutive day, the U.S. HRC futures contract 3-month price held flat at $600.00 per short ton. The U.S. HRC futures contract spot price remained essentially flat at $578.00 per short ton.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
BHP Billiton, Other Iron Ore Producers Brace For Falling Steel Prices
Published 06/03/2013, 01:28 AM
Updated 07/09/2023, 06:31 AM
BHP Billiton, Other Iron Ore Producers Brace For Falling Steel Prices
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.