01
Nov
08:22
Iron ore in last rally as BHPB admits demand delayed
Seaborne iron ore prices finally saw a rally on Friday but are expected to remain under $50/tonne from next week. BHP Billiton admitted that a Chinese steel demand recovery had been delayed, putting increasing pressure on iron ore prices in the short term.
The Kallanish index for 62% Fe Australian fines rebounded by more than a dollar on Friday to $50.57/dry metric tonne. There were no confirmed deals on Global Ore but futures prices in Singapore recov…
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Anonymous
Very good overview of the weekly steel market.
Anonymous