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22 Apr
01:00

Steel, iron ore boosted by lower iron ore output and default acceptance

Sentiment on the seaborne iron ore and steel futures markets has been boosted by lower than expected output by Rio Tinto and market acceptance of China’s first state-owned default. However, neither of these have changed the fundamentals of the market significantly and the outlook remains soft, Kallanish notes. The Kallanish index for 62% Fe Australian fines rose by $2.38 to $52.35/dry metric ton cfr Qingdao. There were no trades recorded on the GlobalO…
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