Falling steel prices extend to iron ore, coke
Post Date: 11 Sep 2009 Viewed: 596
Domestic steel prices have fallen for four weeks running, though the pace is currently slowing. As a result, the price of iron ore and coke has also dropped. Indian fines grading 63.5 percent are being offered at about $82 per ton, down $6 per ton, or 6.8 percent, from last week. It is commonly thought that the drop below the $80 per ton mark is just a matter of time. The September monitoring price of coke in Shanxi was suggested by the Shanxi Coking Industry Association at 1,780 yuan per ton (FOT, duty unpaid), 100 yuan per ton lower than the previous month. The association also called on a strengthened output limit, say, at 60 to 70 percent of their normal capacity among local producers.