CSC: The rise in international iron ore prices will help the steel prices to rise after Lunar New Year
It was reported that the spot price of international iron ore had risen sharply in the past week due to the collapse of Brazilian miner Vale’s dam in Brazil and planned production cut by 10%,. The latest offer per metric ton was US$85.4 and weekly increase of 6.81%. In this regard, the Chairman of Taiwanese China Steel Corporation (CSC) made a New Year’s visit at its mill on Feb 1st, and said that the rise in international iron ore prices would help the steel price to rise after Lunar New Year. The company would postpone the second quarter domestic sales price meeting in early March.
News Date 05 Feb 2019 10:17:54 reported by Kate Lee