The price of Korean iron ore is close to the peak value, which will have a certain impact on the pri

Although the price of iron ore has become more and more stable recently, the purchase price of iron ore in South Korea in the third quarter is still close to $100 per ton, a record high. In August, South Korea's iron ore purchase price continued to be at a high of more than $100 per ton. International iron ore prices topped $120 per ton after a collapse of Brazil's Tailings Dam led to a shortage of supplies. But iron ore prices have fallen sharply as uncertainty from China has increased. The situation in August was only temporary, with iron ore prices currently at $90 per ton.

However, the price of imported iron ore reached a record high of $106 per ton in August. Iron ore has been running at a high level for five years until July this year. Spot prices also supported the rise, with iron ore prices falling sharply since August but still above $90 per ton in September.

Since March this year, South Korean iron ore prices have continued to rise. It topped $90 per ton in June. The price in the first quarter of this year is slightly higher than the 78 dollars in the fourth quarter of last year. However, due to the sharp rise in spot prices, in March, the average import price exceeded $80, and in April / May it even rose to $87, reaching $93 in June.

In the second half of the year, it rose to $97 in July and $106 in August. Third quarter prices are also close to $100 per ton. South Korean industry insiders pointed out that iron ore prices continued to rise in 2019, but steel products prices did not rise significantly, which led to increased cost burden. The steel products prices reflect it that the time is ripe for iron ore prices to rise.