|The weekly change of mineral’s price: |
|Costs to produce one MT of steel in China:|
The growth of iron ore price to over 125$ per MT has made the costs of steel production to increase and the steel margin to decline. Also the production limits because of environmental issues caused the steel output to come down from 2.92 million MT per day on June 2019 to 2.75 million MT on July 2019.
|Iron ore price is expected to rise!|
Iron ore prices seem unlikely to increase much in the short term, but in the medium term they look so! The mill production cuts in China – voluntary or compulsory – will influence the iron ore market.