Research

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

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June 2013 | Steel Raw Materials


Opportunistic buying activity causes prices to fluctuate: Iron Ore Highlights


Better than expected Chinese PMI data was met by cautious optimism only to be thwarted by weak domestic auto sales.

Prices initially staged a strong recovery as buyer’s recognised good value and were spurred on by better than expected Chinese PMI data. However, as the week wore on, the gains gave way to bearish news about weak domestic auto sales, steel producer price cuts and increasing iron ore supply.

Nevertheless, week-on-week prices for Chinese import fines (Fe 63.5%) increased by 0.9% to $113.50/tonnes CFR, while those for pellets (65-66% Fe) decreased by 2.8% to $138/tonne CFR. Chinese domestic iron ore prices also fell. Those for concentrate slipped 2.7% to $151.57/tonne, while pellets drifted lower by 1.1% to $172.80/tonne (average of a selection of prices).

Despite some...

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