Increase in Germany's import iron ore prices accelerates again in June

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Jul 2010

According to a report released by the German Federal Statistical Office (Destatis), in June this year the import price of iron ore increased by 38.9 percent year on year in Germany and was up 18.1 percent month on month. June was the seventh consecutive month in which the import price of iron ore increased. The rate of increase of import iron ore prices accelerated again in June, following the month-on-month increase rate of 14.2 percent registered in May.
Meanwhile, in June, nickel imported by Germany for steel production was 65.5 percent more expensive compared to June 2009 and was down 9.9 percent compared to the previous month.
In the month in question, the import price of pig iron, steel and ferroalloys in Germany rose by 32.4 percent year on year, while the month-on-month decrease rate was recorded at 0.1 percent.

Source: Steel Orbis