15
Mar
00:37
Iron ore slides again as FMG credit cut
Seaborne iron ore prices slid further towards $50/tonne on Monday as the impetus of the recent price surge continued to fade. Moody’s has cut FMG’s credit rating thanks to falling iron ore prices but the market may be bolstered in the short term by a continuing increase in Chinese steel output.
The Kallanish index for 62% Fe Australian fines dropped $0.62/t to $55.93/dry metric tonne cfr Qingdao on Monday. There were still no open deals on trading pl…
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Anonymous
Very good overview of the weekly steel market.
Anonymous