01
Dec
10:42
Iron ore tumbles past $40/tonne
Seaborne iron ore prices slumped on Tuesday as sentiment continued to weaken. Rising port inventories and slowing Chinese steel production mean no significant recovery is expected in the short term.
The Kallanish index for 62% Fe Australian fines slipped below the $40 level to hit $39.05/dry metric ton cfr Qingdao. A 190,000 tonnes cargo of PB fines was tendered by Rio Tinto on Tuesday, selling at $41.58/t with a laycan in 15-24 December.
Iron ore port invent…
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Anonymous
Very good overview of the weekly steel market.
Anonymous