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In the long run, iron ore prices depend on steel demand.

In the long run, iron ore prices depend on steel demand.
Issue Time:2019-02-22

The iron ore price released by the China Iron and SteelAssociation is an index. On February 15, the onshore price of 62% gradedry-based powder ore directly imported iron ore was 85.84 US dollars / ton (ie1.3845 US dollars / ton), per ton The decrease was 0.12 US dollars, a decreaseof 0.14%, and the average price of the month was 86.80 US dollars / ton. Theprice fell slightly for three consecutive days.

On January 25, 2019, the world's largest iron ore producerVale was located in the Feijo iron mine in Brumadinho, Minas Gerais, Brazil.The Paraopeba project of Feijo Iron Mine produced 26.3 million tons of iron orein 2017, accounting for 7% of the total production of 366.5 million tons ofVale. Vale CEO announced that it will temporarily shut down productionfacilities in the relevant tailings dam area, including all five mines in theParaopeba complex in Feijo, four mines in the Vargem Grande complex, and twopellet plants, which are expected to affect at most Annual production of 40million tons of iron ore.

According to the International Iron and Steel Associationdata, global iron ore production reached 2.163 billion tons in 2017, and theoutput of four major iron ore enterprises, namely Vale, Rio Tinto, BHP Billitonand FMG, accounted for 1.07 billion tons.

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