Houston Flagship Deposit Development Plan
Iron Ore Signs of Recovery
1
Spot
Price
Continues to improve
to US$120/tonne by
Iron Ore Spot Price 62% Fe CFR China
(US$/tonne)
mid-November
$125
$120
Replenishing of inventory
Steel
$115
2
by Chinese steel mills
$110
Demand
Global crude steel demand $105
to increase 4.5% in 2013E1 $100
Spot price
to $120/t
by mid-
November
$95
China
3
Stimulus
■ Recent announcements
for new infrastructure
projects totalling ¥800 billion $80
$90
$85
August-12
September-12
October-12
November-12
to ¥1 trillion
Rebound in
Iron ore
prices in Q3
Supports continued demand for steel and iron ore in China
■ 2 LIM shipments of sinter in October: ~322,000 dry tonnes
☐
■ 10th shipment (lump) by end of November:~100,000 dry tonnes
1 According to World Steel Association.
Labrador Iron Mines - TSX: LIM LIM
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