It is reported that the CEO of Vale, Claudio Alves once said at a conference that iron ore price of the fourth quarter may continue to rise.
The current spot price just revives from the low point, yet still lower than the contracted price. The exact price increment remains inconclusive.
According to senior officer form Anglo America, Luis Amarante believes that iron ore price will go further up, as China’s steel production will exceed 800 million tons in 2014 and stimulates the iron ore market.
By then China’s iron ore imports would reach 65 percent of its total shipment trade; until 2008, iron ore imports accounts for 50 percent; due to lack of iron ore in domestic China, the imports would definitely increase.
(Source: www.yieh.com )