The price of iron ore fell 4 per cent on Wednesday as global stock markets slipped and traders anticipated a moderation of Chinese steel demand. With Chinese metal demand in question Share Talk takes a look at the latest metal markets.
Iron ore was one of the best-performing commodities last year and rose above $90 a tonne this month, benefiting the largest producers. Now there are concerns the rally may have reached its limits. Chinese steel mills have been using high-quality ore, which has helped boost benchmark seaborne prices, with the risk they could shift to lower-quality material if their margins start to fall and explorers looking to sell their assets will find this a particularly hard time.
The closing prices for metals is shown below.
| Commodity Closing Prices | ||||
|---|---|---|---|---|
|
chg|%
|
||||
| Precious Metals | ||||
|
Gold
|
USD/ozt
|
1,245.68
|
-0.77
|
|
|
Silver
|
USD/ozt
|
17.58
|
0.05
|
|
|
Platinum
|
USD/ozt
|
963.15
|
1.60
|
|
|
Palladium
|
USD/ozt
|
805.35
|
17.75
|
|
|
Iridium
|
USD/ozt
|
770.00
|
0.00
|
|
|
Rhodium
|
USD/ozt
|
990.00
|
15.00
|
|
|
Ruthenium
|
USD/ozt
|
40.00
|
0.00
|
|
| Base Metals | ||||
|
Aluminum
|
USD/lb
|
0.87
|
0.00
|
|
|
Copper
|
USD/lb
|
2.59
|
-0.02
|
|
|
Lead
|
USD/lb
|
1.05
|
0.02
|
|
|
Nickel
|
USD/lb
|
4.51
|
-0.07
|
|
|
Tin
|
USD/lb
|
9.29
|
-0.05
|
|
|
Zinc
|
USD/lb
|
1.28
|
-0.02
|
|
| Steel Raw Materials | ||||
|
Cobalt
|
USD/lb
|
24.61
|
0.57
|
|
|
Ferro Chrome
|
USD/kg
|
2.08
|
0.00
|
|
|
Iron Ore Fines
|
USD/t
|
61.53
|
0.00
|
|
|
Iron Ore Pellets
|
USD/t
|
88.15
|
0.00
|
|
|
Manganese
|
USD/kg
|
1.94
|
0.00
|
|
|
Molybdenum Oxide
|
USD/lb
|
6.92
|
0.00
|
|
|
Nickel
|
USD/lb
|
4.51
|
-0.07
|
|
|
Tin
|
USD/lb
|
9.29
|
-0.05
|
|
|
Zinc
|
USD/lb
|
1.28
|
-0.02
|
|
| Minor Metals | ||||
|
Cobalt
|
USD/lb
|
24.61
|
0.57
|
|
|
Magnesium
|
USD/kg
|
2.18
|
0.00
|
|
|
Manganese
|
USD/kg
|
1.94
|
0.00
|
|
|
Molybdenum Oxide
|
USD/lb
|
6.92
|
0.00
|
|
|
Tantalite Ore
|
USD/kg
|
123.94
|
0.00
|
|
| Energy Minerals | ||||
|
Crude Oil
|
USD/bbl
|
50.47
|
0.17
|
|
|
Natural Gas
|
USD/mmBTU
|
3.03
|
-0.01
|
|
|
Thermal Coal CAPP
|
USD/st
|
40.00
|
0.00
|
|
| Industrial Minerals | ||||
|
Phosphate Rock
|
USD/t
|
98.00
|
0.00
|
|
|
Potash
|
USD/t
|
214.00
|
0.00
|
|
|
KEY: TRADING | LAST CLOSE
|
||||
