24
Jan
15:32
Iron ore surges on Chinese RRR cut
Seaborne iron ore prices soared on Wednesday, as China's central bank announced a reduction in the reserve requirement ratio (RRR) to stimulate a return in market confidence.
The Kallanish KORE 62% Fe index and the KORE 65% Fe index gained $3.61/t and $3.71/t respectively on Wednesday to $136.22/dry metric tonne cfr Qingdao and $148.28/dmt cfr. The KORE 58% Fe index meanwhile increased by $5.17/t to $125.66/dmt cfr.
Two deals each of 170,000 tonnes of PB…
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Anonymous
Very good overview of the weekly steel market.
Anonymous