27
May
01:00
Iron ore pulls back as forecasts slashed once more
Seaborne iron ore prices pulled back on Wednesday after their recent increase as the effect of falling port stocks and traders at ports restricting cargos faded. As a consequence of this an overriding bleak market outlook again began to take hold. Sentiment was again undermined by Citigroup, which is particularly bearish on iron ore, cutting its long term iron ore price forecasts, Kallanish notes.
The Kallanish index for 62% Fe Australian fines dropped $0.29…
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Anonymous
Very good overview of the weekly steel market.
Anonymous