China’s Iron Ore and Concentrate Price Is Expected to Increase

According to Mining News Pro - It has been raining for a week in Ponta da Madeira port that belongs to Vale Company in the north of Brazil. High-grade iron ore is often loaded in this port but during the last week only 500 thousand tons of iron ore has been loaded. This is less than the expected 3 million tons and the crisis will be appeared in three or four weeks.

The margin of profit for Chinese steelmakers is increasing and for the steelmakers in the seaside reached to 600 yuan/tons. That will increase their purchase power for buying high-grade iron ore. Margin of profit for domestic Chinese steelmakers has reached 400 yuan.

The two factors above are highly stimulating the price of concentrate and iron ore in the Chinese ports that is a good news for Iranian exporters like Saba Noor and companies like GolGohar, Gohar Zamin and Chadormalu.