26
Aug
01:00
Iron ore slides as steel stabilises
Seaborne iron ore prices took another hit on Wednesday as confidence over Chinese demand continued to dwindle. Chinese steel futures prices meanwhile continued to stabilise even as China’s interest rate cut only slowed, rather than arrested, the decline in China’s stock indices.
The Kallanish index for 62% Fe Australian fines fell back by $2.05 to $50.16/dry metric ton cfr Qingdao, its lowest level for a month. Trading platform globalORE saw 80,0…
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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