18
Oct
16:55
Iron ore gains amid uncertain steel output cuts
The seaborne iron ore market rebounded due to declining pressure to reduce steel output in China, while steelmaking losses forced Chinese steel mills to reduce production.
The Kallanish KORE 62% Fe index and the KORE 65% Fe index rebounded by $1.97/t and $2/t respectively on Wednesday to $122.57/dry metric tonne cfr Qingdao and $131.71/dmt cfr. The KORE 58% Fe index meanwhile surged by $6.35/t to $110.32/dmt cfr.
90,000t of Mac fines were booked at $117.1/t,…
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Anonymous
Very good overview of the weekly steel market.
Anonymous