25
Aug
01:00
China cuts interest rates as iron ore, steel settle
The People's Bank of China announced a cut in benchmark interest rates and a reduction of bank reserve ratios on Tuesday afternoon in response to continued falls in Chinese, and global, stock prices. Chinese steel futures and seaborne iron ore prices were actually already settling after Monday’s sharp falls.
The Kallanish index for 62% Fe Australian fines upticked by $1.33 to $52.21/dry metric ton cfr Qingdao. 170,000 tonnes of PB fines traded on g…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous