Steel market, reduced demand for raw materials, resulting in further decline of imported ore spot prices since the benchmark interest rates bottomed out in November last year.
Steel mills in the production gradually in response to declining demand, according to industry estimates, if the mine to continue to increase production will result in iron ore prices fell even more powerful.
The world's third largest iron ore suppliers BHP Billiton said sequentially yield with the same period last year, an increase of 15% and 5% yield again and again during the 2013 fiscal year.
62% grade iron ore prices on Tuesday fell to 129.4 U.S. dollars / ton, which is the lowest price since November 8 last year.
This is the second time this year the price dropped to $ 130 / t, traders said prices may also continue to fall.
Sunshine a port traders said that someone will contrast with the 2008 economic crisis, when traders want to borrow from banks but the banks loaned this year, the bank wants to loan out can be traders who quit because they are indeed real pessimistic about the current market and the global economy.
Shanghai in January 2013 Lo contract price dropped to 3843 yuan / ton (600 U.S. dollars / ton) to close at 3864 yuan / ton.
The China Iron and Steel Association data show that China in the first ten days of July the average daily crude steel output reached 1.958 million tons, down 0.4 percent over the previous ten days.
Since 2001, China's steel output is not double-digit growth year period in 2008 and 2011 economic crisis. During January to June this year, the highest yield at 1.8% growth rate, while the 2011 annual output growth rate of 8.9%.
"In 2012, China has almost all the steel mills in the current difficult market environment, struggling to survive." Future assets of a securities analyst said.
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