30
May
15:37
Iron ore prices slip on gloomy forecasts
Seaborne iron ore prices slipped below $50/tonne on Monday on weak buying and a gloomy outlook. Goldman Sachs is already warning of sub $40/t prices, although it will take another fall in steel prices before that is possible.
The Kallanish index for 62% Fe Australian fines lost $0.63/t to $49.63/dry metric tonne cfr Qingdao. A 170,000t cargo of PB sold in tender last Friday at $50.55/t with a laycan in 15-24 June.
With lower steel prices cutting int…
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Anonymous
Very good overview of the weekly steel market.
Anonymous