April 2012 | Steel Raw Materials
Domestic Chinese prices slip more than imported prices: Iron Ore Highlights
As uncertainty in the Chinese market continues, short-term iron ore prices are likely to subside.
Chinese imported iron ore prices remained stable last week falling just $1/tonne to $149-150/tonne CFR for 63.5% fines and $178-180/tonne CFR for 65-66% pellets. Meanwhile, Domestic prices did not fare as well, with declines in both concentrates and pellets; prices slid by $3.51/tonne and $0.98/tonne to $170.22/tonne and $190.15/tonne, respectively. The MBIOI remained rangebound over the course of this month and has failed to breach the $150/tonne CFR Qingdao level, despite hitting $149.25 on April 12. This was the highest value reached by the index in 2012 and its greatest value since October 2011. A weak first quarter is reflected in company reports from the Big ThreeAs first-quarter financial reports are filed, MBR believes that in light of a slowing Chinese economy and a general upward trend in iron ore prices through...
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