09
Jan
15:59
Iron ore weakens on inventory pressure
The seaborne iron ore market is seeing a slowdown in replenishment purchases by Chinese steel mills this week, with lower steel and hot metal production reducing demand.
The Kallanish KORE 62% Fe index and the KORE 65% Fe index dropped $0.4/t and $0.43/t respectively on Tuesday to $139.51/dry metric tonne cfr Qingdao and $150.14/dmt cfr. The KORE 58% Fe index meanwhile lost $0.39/t to $127.94/dmt cfr.
90,000 tonnes of Mac fines were sold at $134.3/t with a laycan…
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Anonymous
Very good overview of the weekly steel market.
Anonymous