Iron Ore increasing prices, Oct 2011
October 1st 2011 20:24
The soaring prices of Steels in China and India has resulted in increase of the prices of Iron Ore, Iron Metals Scrap, Coal and other steel making raw material. This may continue to increase in the coming days. During the financial year 2011, Chinese production was marked as record high due to high demand from the world market especially from residential projects and infrastructure.
In India, the ban of iron ore from the major mineral supplying state of Karnataka has pushed the operational costs which showed the negative impact on the production of steel in India. The metal stocks were trading low.
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