20
Jan
14:53
Iron ore drops on China real estate woes
Seaborne iron ore prices pulled back on Wednesday, while Chinese steel futures ceased their resurgence. Increases had reached the limit of what market fundamentals would allow for now and new real estate figures for 2015 served as a reminder of that.
The Kallanish index for 62% Fe Australian fines dropped $1.44/t to $40.31/dry metric ton cfr Qingdao. An 80,000 tonnes cargo in the MNP basket traded on globalORE at $40.80/t for February delivery. Rio Tinto me…
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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