12
Jun
00:54
Macquarie: iron ore demand fundamentals appear weak
Macquarie says that iron ore demand fundamentals appear weak against strong supply.
The research house says in a note that its May steel survey showed sluggish sentiment against a backdrop of weakening hot metal production and iron ore demand.
With port stocks approaching historically high levels and steel margins negative, it notes that steel mill sentiment appears increasingly negative with plans to destock.
Meanwhile, Macquarie notes that the combined shipmen…
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Anonymous
Very good overview of the weekly steel market.
Anonymous