08
Dec
10:12
Iron ore stays weak as inventory builds
Seaborne iron ore prices remained weak on Tuesday as steel producers continued to offload stocks. Lower steel production was also contributing to an increase in port inventories.
The Kallanish index for 62% Fe Australian fines slipped by $0.24/t to reach $38.36/dmt cfr Qingdao. A Rio Tinto tender on Monday had confirmed prices under $40/t, with 170,000t of PB fines sold for $39.39/t with a laycan in 19-28 December.
Iron ore port stocks jumped another 2.97% to…
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Anonymous
Very good overview of the weekly steel market.
Anonymous