Schnitzer sees iron ore prices rallying
Jun 27, 2014 | 04:32 PM
| Sean Davidson
NEW YORK Iron ore prices are more likely to recover in the coming months since a tighter supply of scrap has left very little room for iron ore tags to trend lower, according to Schnitzer Steel Industries Inc.s top executive.
Any market push to restore more traditional price spreads between iron ore and scrap would result in iron ore prices climbing higher and not scrap prices drifting lower, chief executive officer Tamara Lundgren said during the Portland, Ore.-based companys earnings call June 26.
Some market participants have forecast that iron ore prices at around $96 per tonne for 62-percent iron c.f.r. Qingdao, China, will drive scrap prices lower, as steel makers push to restore historical spreads between iron ore and scrap prices.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.