German Iron Ore Import Prices Down 10.9 Percent in October

Platts reported that information from Germany’s federal statistics office indicates that the country’s iron ore import prices sank 10.9 percent from September to October, hitting their lowest level in 30 months.

As quoted in the market news:

The three-month rolling average of free-at-the-German border iron ore prices was 9.0% weaker than in September, partly reflecting quarterly contract prices, which track spot prices with a time lag of several months.

Compared with a year earlier, import prices plunged 39.5%, falling at their fastest in a 10-month annual deflation trend. In 2011, annual inflation had approached 35%.

Click here to read the full Platts report.