Daily iron ore price update (steady as Chinese steel)

by Chris Becker

Friday saw the iron ore spot price climb a little higher while Dalian futures stepped back, rebar prices edged higher alongside Chinese steel prices:


The steep rise in coking coal futures is due to a raft of inspections via state authorities in China.

Texture from Reuters:

Some miners in major coal mining hubs of Shandong, Henan and regions in northeastern China have received notices from the National Coal Mine Safety Administration that have asked them to halt operation for inspections, the state-backed Shanghai Securities News (SSN) reported on Friday.
The inspections will last six months until June-end, according to a statement from the administration.
Analysts expect the disruption in production to affect 92.06 million tonnes in coal mining hubs, with coking coal and gas coal being the most affected.

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