August 2012 | Steel Raw Materials
MBR's Steel Raw Materials Index fell 0.5% week-on-week: Latest Analysis
Fears of an involuntary cut in steel output stokes panic in the iron ore market.
MBR's Steel Raw Materials Index fell 0.5% week-on-week, as rapidly declining iron ore prices continued to erode the index. Average index levels this month are down 12.59% year-on-year, highlighting the weakness in steel raw material prices. MBR's Global Steel Price Index gained 0.4% week-on-week, due to strength in European and CIS long products prices.
Chinese coking coal prices responded to the slowdown in steel production in mid-August leaving the previously...
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