In the short run, one can expect a fast recovery of iron and steel prices to the level observed in January-March 2008, i.e. the index will reach the level 210 to 220.

The Wall Street Journal reported that scrap iron and steel prices have gone up 70 percent in just a year. When the recession hit, people began saving appliances for longer periods of time.

The spot price for benchmark 62% iron ore for delivery to north China, as assessed by commodity price reporting agency Argus, ended at $118.80 a tonne on Monday, the lowest since Jan. 9.

U.S. steel prices increase by double-digit percentages, ... About 2,000 taconite workers lost their jobs on the Iron Range between 2015 and 2017 as a major downturn hit the U.S. steel industry.

SHANGHAI—China’s iron-ore and steel prices tumbled Monday, as increasing stockpiles, weakening demand and Beijing’s call to rein in asset bubbles weighed on the market. The benchmark futures ...