Steel and iron ore prices in China make new lows
29 August, 2012, 15:21. Posted by Zarathustra
Just as boring as Shanghai stock market making new low after new low, Chinese steel and iron ore markets are just as equally boringly weak, only that for many days now, they are making new low seemingly on a daily basis instead of every other day.
Iron ore price has already dropped through US$100 per tonne level. Iron ore delivered to Qingdao in fact fell 6.92% in one day, pretty much crashing.
Source: Bloomberg
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About Zarathustra
Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.