Steel & Tube flags increase in prices in early 2017 as coking coal, iron ore prices surge

Thu, 17 Nov 2016

By Jonathan Underhill Nov. 17 (BusinessDesk) - Steel & Tube Holdings boss Dave Taylor says a "dramatic upswing" in coking coal prices and higher iron ore prices meant there needs to be a hike in domestic steel prices in New Zealand next year. Taylor made the comments in a presentation at the company's annual meeting in Wellington. The price of premium hard coking coal reached US$307.20 a ton last week from US$85 a ton at the start of June, according to Reuters. Iron ore futures have also climbed to reach about US$70 a metric ton. Highe...

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