15
Nov
14:49
Seaborne iron ore collapses despite Rio closure
Seaborne iron ore prices followed the Chinese steel market downwards on Tuesday. Rio Tinto’s announcement that it would close a major mining operation over Christmas helped to rally futures slightly but this was heavily outweighed by the collapse of Chinese steel futures.
The Kallanish index for 62% Fe Australian fines fell by $8.18/t, the fastest one-day move since a spike last March, to $69.94/dry metric tonne cfr Qingdao. PB fines traded on COREX at $71…
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Anonymous
Very good overview of the weekly steel market.
Anonymous