"Australian Daily" reported on December 2, the global iron ore price information analysis agency Platts said that the world's largest iron ore giant Brazil's Vale and Rio Tinto will re-enhance the iron ore quarterly agreement in the first quarter of next year Prices rose by 7% and 8% respectively.
According to reports, the current spot price of iron ore in Tianjin Port has reached 166.5 US dollars / ton, the global average spot price is about 150 US dollars / ton, much higher than the level of 100 US dollars / ton a year ago. After the price increase in the first quarter of next year, iron ore prices will once again climb to the historical high in the third quarter of this year, and major steel companies will face greater cost pressures. At present, due to the high raw material costs, the Chinese steel industry as a whole has been at a loss.
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