Increase in Germany’s import iron ore prices drops to single digit in July

Friday, 27 August 2010 11:10:58 (GMT+2)

According to a report released by the German Federal Statistical Office (Destatis), in July this year the import price of iron ore increased by 65.4 percent year on year in Germany and was up 8.9 percent month on month. July was the eighth consecutive month in which the import price of iron ore increased. The rate of increase of import iron ore prices dropped to single digits in July, following the month-on-month increase rates of 18.1 percent registered in June, 14.2 percent in May and 21.9 percent in April.
 
Meanwhile, in July, nickel imported by Germany for steel production was 44.6 percent more expensive compared to July 2009 and was down 4.5 percent compared to the previous month.

In the month in question, the import price of pig iron, steel and ferroalloys in Germany rose by 34 percent year on year, while the month-on-month decrease rate was recorded at 2.7 percent.

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