13
Aug
01:00
Iron ore price gains despite currency woes
Seaborne iron ore prices recovered slightly on Wednesday as the market adjusted to news of China’s falling currency. The impact of a lower CNY could play out in several ways but all of those appear to be negative for prices.
The Kallanish index for 62% Fe Australian fines gained $0.28/t to $53.11/dry metric tonne cfr Qingdao on Wednesday. There were no trades confirmed on GlobalOre but futures prices in Singapore increased slightly.
The 3.5% dev…
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Anonymous
Very good overview of the weekly steel market.
Anonymous