It is said from Shan Shanghua (secretary general of China Iron and Steel Association) that the world’s iron ore supply next year will still exceed the overall demand.

“It will be hard for steel production in the United States and the European countries to fully recover next year when the financial crisis is not really ended yet,” Shan said.

An industry insider also indicated that although the global demand might grow next year, it would still be less than the supply.

	Far East (US/ton)	Mediterranean (US/ton)
CASH BUYER	485	350
CASH SELLER & SETTLEMENT	500	360
3-MONTHS BUYER	485	370
3-MONTHS SELLER	500	380
15-MONTHS BUYER	485	430
15-MONTHS SELLER	500	440
27-MONTHS BUYER	N/A	N/A
27-MONTHS SELLER	N/A	N/A

Product Name	Lowest Price (RMB)	Highest Price (RMB)	Medium Price	City
1# Copper	49300	49400	49350	Shanghai
A00 Aluminium	14910	14950	14930	Shanghai
1# Plumbum	15760	15860	15810	Shanghai
0# Zinc	15450	16150	15800	Shanghai
1# Zinc	15400	15450	15425	Shanghai
1# Tin	118000	119000	118500	Shanghai
1# Cobalt	325000	340000	332500	Shanghai
1# Stibium	40500	41500	41000	Shanghai
2# Stibium	39500	40500	40000	Shanghai