29
Mar
15:40
Iron ore jumps on Vale, Rio disruptions
Seaborne iron ore prices jumped on Friday. After news that Vale had cut its sales forecast more than expected, Rio Tinto declared force majeure on some cargos, tightening the market further.
The Kallanish KORE 62% Fe index jumped $1.22/tonne to $86.32/dry metric ton cfr Qingdao. On COREX, 80,000 tonnes of Carajas fines sold at $99.5/t with a shipment date of 18 March. On the Dalian Commodity Exchange May iron ore settled at CNY 621/t ($92.4/t), up…
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Anonymous
Very good overview of the weekly steel market.
Anonymous