08
Sep
01:00
Steel, iron ore slide as inventories pick up
Seaborne iron ore prices took another hit on Monday as the fall in Chinese port inventories was minimal last week. Steel inventories meanwhile reversed their decline, returning to mid-August levels.
The Kallanish index for 62% Fe Australian fines dropped $2.45/t on Monday to $51.52/dry metric tonne cfr Qingdao. A 90,000t cargo of Carajas fines traded on GlobalOre at $59.5/t cfr Qingdao for October delivery. 100,000t of PB fines also traded at a $3.5/t premiu…
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Anonymous
Very good overview of the weekly steel market.
Anonymous