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Chinese mills' profit under pressure due to iron ore price remaining high in Q2-The 20th China(Guangzhou) Die-casting, Foundry & Industry Furnace Exhibition
5/21/2019 壓鑄展-鑄造展- Die-casting expo-foundry expo |
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It was reported that China iron ore contract price was around RMB 680.5/ton on May 16th, 4.77% higher than before.
It seemed Vale S.A.(Vale) tailing dam accident still affected the market, and Australia was unable to increase their delivery within a short time. The market analyst estimated that in second quarter, the iron ore supply would remain short and price would support it.
However, the pressure on the Chinese steel mills were not only from the cost of raw materials, which was 10% higher than last month, but also the low selling price atmosphere in the market.
壓鑄展-鑄造展-2019第二十屆廣州國際壓鑄、鑄造及工業爐展覽會-中國最受關注的壓鑄鑄造展會-巨浪展覽
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