26
Mar
16:21
Iron ore plunges on supply pressure
Seaborne iron ore prices plunged on Tuesday, as China's steel market fell off a cliff amid short selling.
The Kallanish KORE 62% Fe index and the KORE 65% Fe index lost $3.69/t and $3.63/t respectively on Tuesday to $105.81/dry metric tonne cfr Qingdao and $118.23/dmt cfr. The KORE 58% Fe index slumped by $3.8/t to $94.51/dmt cfr.
Sources report that 170,000 tonnes of PB Fines and same amount of BRBF Fines, as well as 90,000t of Mac Fines were sold respective…
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Anonymous
Very good overview of the weekly steel market.
Anonymous