BHP & RIO TINTO APPROACHING IRON ORE AS THE PRICES INCREASES

As the iron ore prices are increasing, Rio Tinto and BHP Billiton are composed to approach 52-week high iron ore prices during an intense demand viewpoint, as per pre-market; Rio +0.9% and BHP +1.1%. The prices of iron ore are prolonging improvements from last week with a positive viewpoint that steel production will increases as Chinese steel mills will refill stockpiles and inventories of iron ore at port wanes. According to analysts at Orient Futures, the quickness and rapidity of reviving steel mills and dropping inventories at ports points towards strong restocking requirements adding that there would be an oversupply in the market which would bring pressure on prices if the mills continues to keep up its speed of operations.

• [Editor:janita]