Rio Tinto expects the ore price to stabilise in September

After several price increases, Australian iron ore supplier Rio Tinto made a stabilization forecast. On May 19, Sam Walsh, head of Rio Tinto’s iron ore division, said, “In the third quarter, iron ore prices will only change by about 1% compared to the second quarter, and global iron ore prices will stabilise in September. ."

Since this year, under the influence of many factors, the global iron ore price has gone up, especially in the Chinese market. The price of iron ore once reached a record high of US$200. Although the Japanese earthquake once caused a sharp decline in ore prices, iron ore prices have recently returned to a relatively stable channel and have been relatively high. Even as Sam Walsh said, many steel companies, including China, will also suffer from high ore prices. However, as far as the status quo is concerned, the Chinese steel industry's demand for ore prices does not appear to have weakened. According to yesterday's statistics of China Iron and Steel Association, in April, the national crude steel output hit a record high of 1.968 million tons.