05
Nov
13:51
Iron ore slumps as Rio shuns production cuts
Seaborne iron ore prices resumed their fall on Thursday as supply built up and unsold Brazilian cargos approached China. Rio Tinto meanwhile dismissed the idea of production cuts to support prices, saying they alone could not bolster the market.
The Kallanish index for 62% Fe Australian fines dropped $0.98 to $46.65/dry metric ton cfr Qingdao. A 75,000 tonnes cargo of Brazilian Carajas fines sold on globalORE at just $52.1/t cfr Qingdao for November delivery. Tw…
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Anonymous
Very good overview of the weekly steel market.
Anonymous