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

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November 2012 | Steel Raw Materials


Chinese iron ore price continue to edge higher: Iron Ore Highlights


Chinese mills look to take advantage of the low iron ore prices after seeing margins squeezed.

Chinese domestic iron ore prices nudged higher once again in the week ending November 2. In renminbi terms, domestic prices moved up by 0.4% to Rmb955/tonne ($152/tonne) for concentrates from a range of regions, and pellet prices were up by 0.8% Rmb8/tonne to Rmb1,037/tonne. Import prices moved 0.8% and 2.1% higher to $121.50/tonne and $145/tonne CFR for 63.5% Fe-content fines and 65-66% Fe-content pellets, respectively. The MBIOI62 stabilised around the $120-121/tonne CFR Qingdao level over the week and nudged higher still in early trading this week reaching a five-month high.

Manufacturing data suggests the iron ore demand uptrend will continue...

The recent official PMI manufacturing data reached a four-month high of 50.2, indicating that the manufacturing economy is once again expanding after contracting in...

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