Research

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

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November 2012 | Steel Raw Materials


November prices found their ceiling and then declined: Iron Ore Highlights


We expect early December to maintain a downward price trend.

In November, prices started at what seemed to be the upper bound of the price range. The month started with prices at $121.56/tonne for the MBIOI62. Traders successfully breached the range around the tenth of the month, when prices moved above $123/tonne. However, MBR believes prices above $120/tonne are, at the moment, unsustainable. This was highlighted by the index falling to $119.22/tonne as of Tuesday November 27.

December to see a moderate uptick

While we expect the remainder of November to maintain a downward trend, we believe a pick-up during mid-December will take prices slightly higher than the $121.67/tonne November average. In November, mills largely avoided entering the market, but we believe that seasonal pressures to restock ahead...

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