Daily iron ore price update (steel reductions)

The iron ore complex was still elevated in trading yesterday, but coking coal futures took a dump as spot iron ore remained bid above the $171USD per tonne level:





Having run at huge levels through much of last year, Chinese steel inventories have corrected to normal levels:

This leaves mills with less scope to manage a tight iron ore market ahead.
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Comments

  1. Amazed how little interest there is in these posts. Please keep going, it’s hugely important. At some point people will wake the … up and realise what a massive windfall gain this is.

    • Rubber manMEMBER

      There is plenty gold on macrobusiness, good to see the guys keep up with coal, fe and steel, I get the most value out of this. Be good to see more reference to scrap pricing as China tries to wean of blast furnaces and move to eafs etc.