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Improving Chinese Steel Demand Sends Iron Ore Prices Soaring to 15-Month Highs

08.01.2013  |  Marketwired
The Paragon Report Provides Stock Research on Cliffs Natural Resources and Rio Tinto

NEW YORK, NY -- (Marketwire) -- 01/08/13 -- The Iron Ore Industry has had a strong start to the new year as rising steel demand in China have sent prices for the commodity soaring to a 15-month high. Prices for iron-ore have rallied 75 percent from the lows seen in September. The Paragon Report examines investing opportunities in the Iron Ore Industry and provides equity research on Cliffs Natural Resources Inc. (NYSE: CLF) and Rio Tinto plc (NYSE: RIO).

Access to the full company reports can be found at:



According to Antaike Information Development stockpiles of iron ore at local ports in China totaled 71.3 million metric tons as of December 21st, the lowest in two years. China's largest steelmaker Baoshan Iron and Steel has stated it will raise prices for the third consecutive month in February, providing a positive outlook for steel demand in China.

"The sharp rise of iron-ore prices driven by aggressive buying from mills amid higher steel prices is building up the case that demand may be improving on the back of China's new urbanization initiatives," said Morgan Stanley analyst Fotis Giannakoulis in a recent report. "A new wave of purchasing looks possible."

Paragon Report releases regular market updates on the Iron Ore Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.

Cliff's North American operations produce 13 grades of iron ore pellets, including standard, fluxed and high manganese, for use in customers' blast furnaces as part of the steelmaking process. In the Asia-Pacific region, the company supplies steelmakers with direct-shipping fines and lump iron ore. Shares of the company have gained nearly 30 percent in the past month.

Rio Tinto's iron ore business is the second largest supplier to the iron ore market which makes steel for industrial and infrastructure use. The company's iron ore operations in the Pilbara have a current annual capacity of 237 million tons, with advanced plans to increase capacity to 290 million tons by 2013, and to 360 million tons by 2015.

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.paragonreport.com/disclaimer
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