Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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July 2011 | Steel Raw Materials


Prices hold their ground: Iron Ore Highlights


China’s manufacturing PMI fell to an 11 month low in June, hitting 50.9 points down from 52 in May.

Week-on-week prices were broadly stable. Chinese import fines (63.5% Fe) were unchanged at $175.50/tonne CFR, while import pellets (65-66% Fe) moved 0.8% higher to $187.50/tonne CFR. Prices for Chinese domestic concentrate and pellet (taking the average of a selection of prices) were largely unmoved at $189.16/tonne and $205.88/tonne, respectively. Volumes on the swaps market traded higher. Swaps tied to deliveries in the fourth quarter traded between $165.00-167.50/tonne, a week-on-week increase of around 2%.

Despite record Chinese steel production levels iron ore demand is muted

The tightening of monetary and fiscal policy is showing the desired effects in the Chinese economy. Domestic demand is easing. In response, China’s manufacturing PMI...

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