global steel industry and iron ore prices 2010Steel companies in several countries concerned about changes in iron ore prices in 2010. Because of the possibility of iron ore prices in 2010 will rise sharply. Some company’s largest iron ore mining has provided a statement of the plan to raise iron ore prices up to 40%. If there is iron ore price increase, the estimated number of steel mill companies will experience substantial losses.

China’s largest steel maker, Baoshan Iron & Steel Co. Giving a statement to the Xinhua news agency said, “There are not many steel makers currently profitable. Iron ore price rise will cause more harm. ”

Baoshan Iron & Steel Corp estimates that iron ore prices could reach 30%. Steelmaker Baosteel will bridge the talks between China’s steel makers and mining companies Rio Tinto and BHP Billiton.

Baosteel said in a Xinhua interview, “The foundation of Chinese steel makers’ profitability is not solid as most of the demand created by government stimulus policies amid the global crisis. There is room for the price of raw materials rose only when manufacturers can pass on cost pressures. ”

Iron ore price data according to the Steel Index, Weekly cash prices of iron ore imported by China from India gain 5.2%, biggest rise in six weeks in a row, to a record $ 111.5 per metric ton last week. Cash price for Australian ore also reached a record $ 107.4 per ton on December 18, according to the Steel Index.

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