10
Aug
14:17
Iron ore dips again as steel support fades
Seaborne iron ore prices dipped a little further on Wednesday. Iron ore has little reason for further increase while the rally in steel prices fades.
The Kallanish index for 62% Fe Australian fines fell back by $0.90 to $59.37/dry metric ton cfr Qingdao. PB fines sold on COREX at $60/t and futures were also trending downwards.
As Chinese prices are not yet declining and mills are still well incentivised to make more steel, there should be only limited downwar…
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Anonymous
Very good overview of the weekly steel market.
Anonymous