Kallanish Steel Weekly
Credit Suisse expects iron ore to remain solid this year on tight supply, but believes it is priced appropriately.
China steel mills’ lack of profitability caused by over-production will also cap prices at $130/ tonne this year.
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Australian fob coking coal prices continued to fall last week on more supply availability. Kallanish assessed premium hard coking coal at $278.33/tonne fob Australia, falling $17.32/t from $295.65/t the previous week. On the Singapore Exchange, Premium Coking Coal Futures for May settled at $285/t on Thursday. This is versus the …
Kallanish Consulting Services’ Ian Roper foresees strong supply growth pulling iron ore prices back down towards $90/tonne by year-end. He said at Thursday’s Kallanish Asia Steel Markets 2023 event in Ho Chi Minh City that iron ore market tightness will fade in the second half of 2023.
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The merchant pig iron market continues to wane in the wake of the considerable activity of the last two months, with a slight divergence of direction noted in the main markets. The US import market was relatively quiet, with the exception of a couple of negotiations, which have not yielded sales. …
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Anonymous
Very good overview of the weekly steel market.
Anonymous