22
Sep
01:19
Steel slides, iron ore gains but banks bet ore to fall
Seaborne iron ore prices gained on Monday as buying continued, while steel futures slid to new historic lows as inventories pull out of their decline. ANZ Bank again cut its forecasts for iron ore prices however, saying that China’s steel demand has indeed peaked.
The Kallanish index for 62% Fe Australian fines jumped to $57/dry metric tonne cfr Qingdao on Monday on the back of new deals. 170,000t of Fortescue Blend traded on GlobalOre at $52/t for October…
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Anonymous
Very good overview of the weekly steel market.
Anonymous