|By Marketwired .||
|December 13, 2012 08:20 AM EST||
NEW YORK, NY -- (Marketwire) -- 12/13/12 -- The Iron Ore Industry has rallied recently on the resurgence of strong Chinese demand. China's imports of iron ore in November increased 17 percent to 65.78 million tons, which was the highest seen since January 2011. The Paragon Report examines investing opportunities in the Iron Ore Industry and provides equity research on Rio Tinto plc (NYSE: RIO) and Vale SA (NYSE: VALE).
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Australia, which is the largest exporter of iron ore, recently raised its 2013 iron ore price outlook as recent infrastructure projects announced by China are expected to boost demand. The Australian Bureau of Resources and Energy Economics in a recent report expects iron ore prices to average $106 a metric ton in 2013, which is an increase from the $101 a ton forecasted in September.
"Prices in the first half of 2013 are expected to remain around current levels, while prices are forecast to increase in the fourth quarter of 2013 in line with an expected increase in steel consumption demand," the report said.
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.
Rio's iron ore business is the second largest supplier to the iron ore market which makes steel for industrial and infrastructure use. The iron ore business delivered an impressive performance in 2011, with a record year of production and shipments at their world-class Australian Pilbara operations. Shares of the company have gained 8 percent in the past week.
Vale is the world's biggest producer of iron ore and pellets, raw materials essential to the manufacture of steel. Vale's mines are concentrated in Brazil. The company also holds stakes in joint ventures in China that produce pellets (small lumps of iron particles). Shares of Vale have rallied nearly 10 percent in the past week.
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:
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