China Fast Figure- Iron Ore

Iron ore prices tick up highlighting increased momentum

Iron ore prices ticked up in mid-August. Domestic and composite prices were at 95 and 78 respectively. The imported price for August at 67. All of the indexes are up 4-6 points in MoM comparisons. Iron ore prices overall are stable. We believe with the increased momentum in the construction and metal sectors that iron ore could see incremental price increases given the increased probability of construction and stimulus spending we have been highlighting.