Last week both iron ore and scrap prices decreased indicating that the market globally is weakening slightly as the summer is starting in China and the Ramadan has begun in Turkey and the Middle East.

Iron ore settled last week at levels close to $55/t CFR Qingdao according to Kallanish …

Last week the Kallanish iron ore index reached a seven-months low at $58.24/tonne CFR Qindgdao; the correction came as Chinese rebar and HRC prices moved up during the week, indicating that mills have manged to increase somewhat their marginality. While the lower iron price is set to force the market …

Last week the Kallanish iron ore benchmark recovered somewhat and supported Chinese finished steel prices. While the recovery was welcomed in the market, it is uncertain how long this could last going into June as stocks remain at record highs and traders in South-East Asia are bidding for lower levels. …

Last week was a week of transition for the steel markets as both scrap and iron ore prices stabilised and the market began looking for direction.

Iron ore prices were steady the entire week at levels very close to $60/tonne cfr China; this level has been recorded since 5 May. …