Rio Tinto estimate poems in Japan

Currently it is too early to evaluate the impact of the earthquake in Japan for the supply of iron ore in this country. This opinion was expressed by representatives of a major mining company Rio Tinto, said Metal Bulletin. "We are closely monitoring the situation in Japan. We are in close contact with the authorities of the country and will continue to monitor closely how the situation develops. We believe that it is too early to talk about what happened, and what are the implications at this stage" - said in the mining corporation. Earlier in the Chinese steel company Baoshan Iron & Steel suggested that a catastrophic earthquake in Japan affect the steel sector of the country, which will affect the cost of iron ore. By the way, the Singapore brokerage Kim Eng Holdings group expressed the view that steel prices are likely to grow following the earthquake in Japan. At the same time, analysts believe that to expect lower prices for raw materials in the medium term. According to them, this happens because of the closure of Japan's steel mills and reduce oil consumption. "However, this trend may soon give way to the opposite after the return of Japanese plants in operation, or if China is rapidly activated," - added to the company. Ministry of Industry