prices plunged 37% since mid april

Iron ore prices have plunged 37 per cent since mid April 22 as the juniors face a possible MRRT levy without any Government consulation.

The sharp fall, especially for DSO shipments should have serious repercussions for the industry juniors.

The latest iron slump is based on the latest prices released from the Guofeng Steel mill overnight.

China Iron Ore concentrate purchase price (Fe66%, 17% VAT inclu.,
delivered to mill) - daily, RMB/Dry Metric Tonne*

Date Guofeng Steel Lingyuan Steel
6/07/2010 870 (1000) 900 (940)


China Iron Ore concentrate market price (Fe66%, 17% VAT
unclu.) - daily, RMB/Dry Metric Tonne

Date Chaoyang Area Tangshan Area
6/07/2010 870 (900) 1000 (900)
Note: $US1 = RMB 6.7705

Reuters.