November 2009 | Steel Raw Materials
MBR's steel raw materials index falls 0.2% - Latest Analysis - November 10 2009
Coking coal spot prices are rising, following the trend of Asian demand and recovering European demand. We hear that the expectation is that prices will move higher in the coming weeks and months and buyers are looking to secure material now.
MBR has been attending raw materials events over the past few weeks and market sentiment remains downward for most steel raw materials. And again this week, MBRs Steel Raw Materials Index dipped in response to weakening prices, mainly for US scrap.
Market fundamentals for iron ore and coking coal, however, are improving on tight supplies and recovering demand. Chinese import prices for...
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