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Vale director Martins said that the spot price of iron ore fell to $120 per ton as China tightened credit.
Comprehensive media reported on October 28 that Vale (06210) director Martins said in a conference call that Chinese steel producers and traders are harder to purchase iron ore in the way and quantity that was affected by China’s tightening of credit, resulting in iron The spot price of ore fell to $120 per ton.
He also pointed out that the increase in Indian iron ore exports and the reduction in demand from European steel producers also increased the downward pressure on iron ore prices; but he believes that the basic demand for iron ore market remains strong, and as the winter approaches, the mainland Iron ore supply will decrease and there are signs that iron ore prices may rise again in the middle of next month.
According to the data, the spot price of iron ore before the month was 172.6 US dollars per ton.
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