Prices to move down gradually in September-October

摘要

In July, iron ore prices surged in long-term contracts in Russia, following changes in the global market. At the same time, prices in spot deals were increasing less uniformly because of the companies offering the material occasionally and being determined in selling it. Consequently, regular market participants adjusted prices in line with changes in long-term contracts (by?some 10-11% up), while non-regular ones raised quotes by no more than 5%.