Iron ore prices set to continue their upward pressurePosted: March 1, 2011
The Financial Times reports that analysts expect iron ore prices to rise as much as 25% from the first to the second quarter.
One of several examples of increasing price pressures:
“Contract prices for the second quarter, which are based on the average spot market price from December to February, are set to rise to about $170 a tonne for Australian iron ore, excluding freight costs. That is 40-45 per cent higher than the same quarter in 2010 and nearly triple the $61 price in place until March 2010 under the old annual benchmark pricing system.”
See “Record iron ore prices loom” for more details.