Another victim of the collapse in the steel market has been Kumba Iron Ore, a unit of Anglo American, which has seen the price of the mineral fall more than a fifth this year alone as some of the world's biggest mining houses continue to bring more supply on line, just as the Chinese economy slows.
"The outlook isn't good for the next couple of years," said Sean Ungerer, an analyst at Avior Capital Markets. The iron ore "market remains oversupplied and will take a couple of years to unwind".
Source: timeslive.co.za
- metaljunction »
- Metal News
Metal News & Events
METALJUNCTION PUBLICATIONS
Coal Insights (English) Monthly
Coal Insights is a ready reckoner for anyone associated with coal. This publication is aimed at tracking everything related to coal in India.
India Coal Market Watch(English) Monthly
ICMW is a one-stop source for all news, data and research pertaining to coal demand, consumption, stocks, spot- and long-term prices with respect to the Indian Market.
India Steel Market Watch (English) Monthly
ISMW is a brand new high-end steel market report, covering all aspects of the steel industry in India.
Steel Insights(English) Monthly
Steel Insights delves into various facets of the domestic and global steel industry such as market fundamentals, raw material price trends, price forecasts etc.