04
May
14:04
Iron ore slumps on weak steel
Seaborne iron ore prices fell back sharply on Thursday as the bottom fell out of the Chinese steel marketl. Miners continue to develop relationships in China to secure their market, with Rio Tinto forming a loose arrangement with Minmetals.
The Kallanish index for 62% Fe Australian fines slipped back to $66.23/dry metric ton cfr Qingdao. On the Dalian Commodity Exchange September iron ore slumped CNY 28/tonne at CNY 499/t ($72.35/t), while on the Singapore Excha…
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Anonymous
Very good overview of the weekly steel market.
Anonymous