23
Nov
14:15
Steel, iron ore slump on destocking
Chinese steel futures plunged to new record depths on Monday as winter added a frosty bitterness to already frozen demand. Seaborne iron ore price, meanwhile, slumped again on signs of a destocking at ports and mills.
The Kallanish index for 62% Fe Australia lost another $0.51/t to $43.67/dry metric tonne cfr Qingdao. 170,000t of PB fines sold in a tender at $44.18/t cfr Qingdao with a laycan in 7-16 December. Futures prices also continued to slump.
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Anonymous
Very good overview of the weekly steel market.
Anonymous