On May 19, Sam Walsh, iron ore chief of Australian mining giant Rio Tinto, the world's second largest iron ore producer, told the press that he expects global prices of iron ore in Q3 to vary by only around one percent compared with the prices in Q2, adding that prices are expected to stabilize in September.
The global prices of iron ore have been enjoying an uptrend since the start of this year, experiencing a temporary setback after the devastating earthquake hit Japan in March 11.