19
Jun
15:40
Iron ore soars before Rio cuts guidance
Seaborne iron ore prices were driven to a new high as the prospect of a trade peace bolstered sentiment. Fundamentals meanwhile were thrown into confusion as Vale announced the restart of Brucutu but Rio Tinto announced a new lower shipment guidance.
The Kallanish KORE 62% Fe index jumped $3.74/t to $111.28/dry metric ton cfr Qingdao, the highest level since 24 April 2014. On the Dalian Commodity Exchange September iron ore settled at CNY 800/t ($115.4…
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Anonymous
Very good overview of the weekly steel market.
Anonymous