29
Apr
12:27
Iron ore prices gain but so do inventories
Seaborne iron ore prices firmed again Friday as Chinese steel markets continued to surge. Oversupply continues however and port stocks returned to growth.
The Kallanish index for 62% Fe Australian fines increased $0.49/t to $67/74/dry metric ton cfr Qingdao. On the Dalian Commodity Exchange, September iron ore settled up CNY 11/t at CNY 509.5/t ($73.9/t), while on the Singapore Exchange May 62% Fe futures settled up $1.75/t at $68.02/t.
After Chinese iro…
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Anonymous
Very good overview of the weekly steel market.
Anonymous