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[Ferro-Alloys.com] Iron ore prices are expected to soften from current high levels in the July-September quarter, though Chinese steel margins will remain healthy, driven by demand from infrastructure and property construction, according to the latest S&P Global Platts Iron Ore & Steel Outlook released June 29.
The outlook for the third quarter found that 52% of respondents expected iron ore prices to average in the $90-$100/mt CFR China range in Q3, with only 20% seeing prices above $100/mt. The Platts 62% Fe benchmark averaged $103/mt CFR over June 1-25.
A quarter of respondents expected their iron ore requirements to increase in Q3, while 29% anticipated less demand. This contrasts with the Q2 outlook, when 50% saw their iron ore needs increasing and only 13% expected lower iron ore requirements.
Despite record crude steel production in May, 46% of respondents thought Chinese steel output would increase further in Q3, with just 16% expecting it would be lower. In separate analysis, Platts estimates that Chinese crude steel production will grow by 2% this year.
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- [Editor:kangmingfei]
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