Experts believe steel and iron ore prices will rise in 2010

According to IFC Metropol forecasts steel demand in the domestic market will rise to 3.5—3.7M tons in month by QIII 2010 (15-20% against the average level of 2009). World steel price will rise in I half of 2010 to approx $600—650 per a ton (hot-rolled coils) and may grow to $650—700 per a ton in the II half of 2010. As a result, in April 2010 price for Australian coking coal may rise by 20—25% to $155—162 per a ton.
KIT Finans analysts expect growth in prices for iron ore, coking coal, and metals in I half of 2010. Steel-makers’ demand for coking coal will be high in I half of 2010 and it will keep the price for coking coal concentrate in 2010 at the level of QIV 2009.