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

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July 2013 | Steel Raw Materials


Prices jumped on stronger steel market: Iron Ore Highlights


The futures market on SHFE is replicating the physical market trend as prices move up.

Although the steel market has entered the traditional low season at the beginning of July, the relatively strong performance of steel prices in China has encouraged certain buyers to return to the spot iron ore market in the past week. In Tangshan, 150mm diameter billet - one of China's major semis markets - traded at Rmb3,060/tonne ($499/tonne) on Friday, up Rmb80/tonne from a week ago. While in the futures market, the most-traded rebar contract on the Shanghai Futures Exchange (SHFE) gained Rmb89/tonne over the week to settle at Rmb3,625/tonne. The futures market is replicating the physical market trend, as prices have moved up close to Rmb90/tonne in the past week to exceed Rmb3,500/tonne.

Prices for Chinese imported fines (Fe 63.5%) jumped by 6.8% to $125/tonne CFR week-on-week, and those for pellets (65-66% Fe) moved a further 1.3% to $152.5/tonne...

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