STEEL – PRICES

December rally over as iron ore heads back to $US30s

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Original article by Stephen Cauchi
The Australian Financial Review – Page: 26 : 7-Jan-16

The sharp downturn in the Chinese sharemarket on 4 January 2016 has in turn prompted the iron ore price to retreat from its recent high of $US44.37 per tonne. The price of the steel input fell to $US38.30/tonne in mid-December 2015, and Citigroup’s Ivan Szpakowski forecasts that slowing demand from Chinese steel mills will see it fall below $US40/tonne again. Recent data shows that there has been strong growth in iron ore stockpiles at Chinese ports.

CORPORATES
CITIGROUP INCORPORATED, BLOOMBERG LP, MAIKE FUTURES, SHANGHAI STEELHOME INFORMATION TECHNOLOGY COMPANY LIMITED, GRANGE RESOURCES LIMITED – ASX GRR

Iron ore miners told to prepare for rough ride

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Original article by Rose Powell, Julie-anne Sprague
The Australian Financial Review – Page: 22 : 29-May-15

Iron ore was trading at $US63.10 per tonne on 28 May 2015. The China Metallurgical Industry Planning & Research Institute’s president, Xinchuang Li, expects it to trade within a range of $US55 to $US65 per tonne over the next several years. He adds that strong competition in China’s steel industry will keep downward pressure on the prices of both iron ore and steel. China imported 933 million tonnes of iron ore in 2014.

CORPORATES
CHINA METALLURGICAL INDUSTRY PLANNING AND RESEARCH INSTITUTE, STOCKBROKERS ASSOCIATION OF AUSTRALIA LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, CITIGROUP PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO