Last Updated: 11/23/2024 3:32:00 AM
The prices of iron ore for Japan and South Korea slid sharply for second quarter of 2012, especially on the price of iron fine ore in Pilbara dropping by 9% from Q1 of 2012 to around US$130/ton FOB. The price has declined for three weeks in a row. For steel product market in China, the stock has reached a high level of 19 million tons in February due to low demand. Also, the production of crude steel curtailed to about 52 million tons in January, down by 13% from a year ago.