Research

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

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August 2011 | Steel Raw Materials


Buying momentum builds : Iron Ore Highlights


Import prices for both fines and pellets increased 1% in the last week of August.

Spot market activity has been gathering pace. Supporting factors include tighter material supply from India and restocking by Chinese steel mills. Import prices for both Chinese fines (Fe 63.5%) and pellets (65-66% Fe) increased to $187.50/tonne CFR and $203.00/tonne CFR, an increase of 1% week-on-week in each case. Of import material into China from the major producing countries, Indian iron ore prices saw some of the biggest gains. Traders reported a lack of medium to low grade Indian cargo. Week-on-week prices for Indian fines (Fe 58/59%) appreciated by 1.3% week-on-week to $154/tonne CIF. In contrast Chinese domestic prices also climbed, although at a slower rate. Concentrate moved 0.4% higher to $204.55/tonne while pellet prices increased by 0.6% week-on-week to $221.18/tonne (average of a...

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