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According to the practices, presently it is the time for the annual ore price negotiation. As the recovery of the steel mills in the worldwide as well as the tight supply of resource, the iron ore spot price surged since December of 2009 and the international investment banks also increased the forecast on the rising extent of the iron ore for 2010. However, for these complicated figures, industry insiders begin to keep a certain reservation attitude.
It is no doubt that the collective rising of the international investment banks will impose great impact on the iron ore pricing. However, industry insiders hardly knew how these figures release. Tom Price, analyst of UBS said on January 18 that the predication of the investment banks also follows with the market views.
For the changes of the international investment banks, more and more industry insiders began to hold reservation attitude. An industry insider said that the forecast of the international investment banks can take a reference but not trust fully. Actually, the iron ore long-term contract price should base on the relationship of demand and supply. However, on this point, the research of China’s locals is weak. Personnel from Baosteel said that with the steel future come to mature phase, China need to cultivate a group of specialized researchers to assist China to hold more accurate tendency of the bulk commodity market.
For more information please click: www.chinametalbiz.com
It is no doubt that the collective rising of the international investment banks will impose great impact on the iron ore pricing. However, industry insiders hardly knew how these figures release. Tom Price, analyst of UBS said on January 18 that the predication of the investment banks also follows with the market views.
For the changes of the international investment banks, more and more industry insiders began to hold reservation attitude. An industry insider said that the forecast of the international investment banks can take a reference but not trust fully. Actually, the iron ore long-term contract price should base on the relationship of demand and supply. However, on this point, the research of China’s locals is weak. Personnel from Baosteel said that with the steel future come to mature phase, China need to cultivate a group of specialized researchers to assist China to hold more accurate tendency of the bulk commodity market.
For more information please click: www.chinametalbiz.com
