When can one expect prices of minerals such as magnesia, bauxite to come down to more realistic levels?
While the prices of base metals and several other basic industrial materials have cooled to more realistic levels based on the drastic demand decrease, the prices of minerals used in making refractories do not seem to reflect this picture sufficiently. It also doesnt seem logical when one hears “stories” about the likelihood of China cutting down on Export licensing quotas, when in actual fact, the quotas are hardly being utilised to the levels sanctioned. Further, Chinese steelmakers have been producing in excess of 12% over Q4 ’08 in Q1 ’09, despite the anticipated slowdown across all sectors. This seems to suggest a clear imbalance between supply and demand, which must eventually drive prices down to more balanced levels. When the lack of demand hits the industries, one may expect a further drop in basic raw materials for industries such as Steel and consequently on dependent industries such as refractory making. It would be of interest to watch the evolving prices of minerals visav
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