Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (30887)	1/6/2009 7:20:00 PM
From: LoneClone	Read Replies (1) \| Respond to of 194000

Iron-ore prices should fall to 07/08 levels – steelmaker miningweekly.com By: Reuters Published on 6th January 2009 TOKYO - JFE Steel Co President Hajime Bada said on Tuesday the company wants prices of iron ore and coking coal for term supply in 2009/10 business year to fall to at least 2007/08 levels due to a precipitous decline in steel demand. "The 07/08 levels-- that's the minimum for us," Bada told reporters at a reception for the Japan Iron and Steel Federation. JFE Steel, the world's third biggest steel maker in terms of output, is the core unit of JFE Holdings Inc. Iron-ore prices have nearly doubled and coking coal prices have tripled this business year amid tight supply, but demand for steel has fallen sharply since late last year due to the downturn in the global economy. Bada said talks with miners could be delayed this year, adding some mines expect a recovery in Chinese steel demand after the Lunar New Year holiday on January 26. "We are hoping prices will be set by May at the latest," he said.