Fe Scrap Watch2024#4 Iron ore to scrap will not drop significantly during the year
05/22/2024 20:00
First, let me conclude that there will not be a significant decline in scrap steel prices during the year. There is also no decline in iron ore and coking coal. First, iron ore and coking coal have been stable over the past five years, as shown in the chart below. Currently, iron ore prices are hovering around $120 per ton. It was below $100 in late May 2000, when the world was depressed by the coronal pandemic and even China was forced to reduce production.
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