24
Apr
16:53
Iron ore surges, FMG reports lower shipments
Seaborne iron ore prices saw strong gains on Wednesday as replenishment demand was released ahead of the May holiday. Australian miner Fortescue Metals Group (FMG) also reported lower-than-expected shipment levels.
The Kallanish KORE 62% Fe index and KORE 65% Fe index surged by $5.25/t and $5.27/t respectively to $117.66/dry metric tonne cfr Qingdao and $130.14/dmt cfr. The KORE 58% Fe index was $5.01/t higher at $105.17/dmt cfr.
Sources report that two deal…
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Anonymous
Very good overview of the weekly steel market.
Anonymous