January 2013 | Steel Raw Materials
Prices continue to fall: Iron Ore Highlights
Chinese steel market show signs of a pick-up but prices remain low.
Prices maintained a downward trajectory last week reaching $144.26/tonne at the end of the week. Earlier this week, prices firmed, gaining $1/tonne on Monday, as some buying activity reappeared in the market, which had up until then been rather subdued. We do not think, however, that this can be read as the sign of a recovery in the iron ore market.
Rebar prices are also on the rise in January, but less steeply than iron ore numbers
Although the Chinese steel market has shown signs of a pick-up, prices remain low, with the rebar average price in January thus far still below $610/tonne. We can add the effect of the appreciating yuan to the lower prices, which makes it...
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