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Kallanish Steel Weekly: Iron ore price continues to support markets

Kallanish Steel Weekly: Iron ore price continues to support markets (Feb. 6, 2018)

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The iron ore price in China is continuing to remain firm, supporting prices globally despite the correction seen in scrap prices since mid-January.

Last week iron ore remained at around $72-73/tonne cfr Qingdao, before jumping back to above $75/t cfr at the beginning of the current week. The rebound gave a strong signal to global markets as most flat products’ indices recovered further last week.

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