Iron ore market to stay strong in 2009: forecasts

摘要

The iron ore boom continues, with the market expected to stay firm through next year, according to a report by the Iron Ore Trust Fund of Geneva-based United Nations Conference on Trade and Development (UNCTAD). Published in June in co-operation with Stockholm-based Raw Materials Group, The Iron Ore Market 2007-2009 reports that price increases agreed to so far this year vary from 65-97 percent - the highest ever. Iron ore prices are soaring be-cause demand has grown fas'ter than expected, says the Iron Ore Trust Fund, while growth in production has been delayed by a lack of infrastructure, equipment delivery delays, and a shortage of skilled labour. Puttingfurther pressure on prices is the small number of major iron ore producers, which are at an advantage when negotiating with the fragmented steel industry.