The seaborne iron ore market surged on Wednesday as Chinese steel futures rebounded. The increase in crude steel production at key steel mills and the decline in inventories at the end of November imply that the raw material market is still supported by strong demand.
The Kallanish KORE 62% Fe index and the KORE 65% Fe index each surged by $3.91/t to $133.64/dry metric tonne cfr Qingdao and $145.7/dmt cfr respectively. The KORE 58% Fe index, meanwhile, was $3.99/t…
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