03
May
13:51
Iron ore prices slump as China market wanes
Seaborne iron ore prices slumped again on Tuesday after the three-day May weekend. Falling steel prices in China and weak economic data put a break on buying.
The Kallanish index for 62% Fe Australian fines fell back to $61.92/dry metric ton cfr Qingdao. 210,000t of PB fines traded on globalORE at a $2.5/t premium to the Platts 62% Iodex.
Chinese futures prices lost well over CNY 100/t ($15.4/t) on Tuesday, and spot steel prices were also falling (see separat…
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Anonymous
Very good overview of the weekly steel market.
Anonymous