09
Apr
15:42
Iron ore faces 'non-fundamental' rebound
Seaborne iron ore prices continued their strong rebound on Tuesday, and market participants viewed the rebound as "non-fundamental," meaning that the supply and demand situation has not improved.
The Kallanish KORE 62% Fe index and KORE 65% Fe index were lifted by $4.13/t and $4.24/t respectively to $108.03/dry metric tonne cfr Qingdao and $120.11/dmt cfr. The KORE 58% Fe index was boosted by $5.63/t to $99.07/dmt cfr.
Sources report that two deals of 8…
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Anonymous
Very good overview of the weekly steel market.
Anonymous