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Iron-Ore Collapse Seen Ending Most Profitable Shipping in a Year: Freight
Nov. 01, 2011 01:50PM PST
Base Metals Investing Bloomberg reported steelmaker demand for iron ore is weakening, threatening to end the most profitable shipping rates in almost a year.
Bloomberg reported steelmaker demand for iron ore is weakening, threatening to end the most profitable shipping rates in almost a year.
As quoted in the market news:
Ore stockpiles at ports in China, the largest user, already expanded to within 3.6 percent of a record, according to Antaike Information Development, a Beijing-based researcher. Chinese steelmaking is near the least profitable in almost three years, data compiled by Bloomberg Industries show. Iron-ore swaps, traded by brokers and used to bet on future costs, show no price rebound until at least 2013.
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