25
Jul
15:28
Iron ore gains on policy stimulus
Seaborne iron ore prices rebounded faster on Tuesday driven by positive policy statements from the Political Bureau meeting readout released on Monday. Rumours of steel production restrictions also added to the market's recovery.
The Kallanish KORE 62% and 65% Fe indices boosted by $3.4/tonne and $3.28/t respectively on Tuesday to $116.77/dry metric tonne cfr Qingdao and $130.38/dmt cfr. Meanwhile, the KORE 58% Fe index gained $2.32/t to $107.08/dmt cfr.
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Anonymous
Very good overview of the weekly steel market.
Anonymous