01
Aug
16:06
Iron ore strengthens as China manufacturing PMIs diverge
Seaborne iron ore prices moved fairly sharply upwards again on Monday following Friday’s dip. A variation in manufacturing PMI’s for July (see separate article) brought confusion more than clarity, but both the iron ore and Chinese steel markets appear to have responded positively to the news.
The Kallanish index for 62% Australian fines rose by $1.86 to $58.36/dry metric ton cfr Qingdao. In a trade on Friday 170,000 tonnes of 61% Fe PB fines sold at…
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Anonymous
Very good overview of the weekly steel market.
Anonymous