Prices to soar in January, to roll back in March at earliest

摘要

Iron ore prices in Russia have been largely stable in December, and thesmall changes are driven by new contracts only. The market capacityhas kept increasing, with the share of spot contracts rising by 4 p.p.month-on-month to 24%.In the second half of December, prices for foreign iron ore in China haverisen to $74.5/t CFR China. The increase has been supported by steadydemand and costlier steel products in the home market.