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

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November 2014 | Steel Raw Materials


Higher steel output fails to materialise after APEC: Iron Ore Market Analysis


China’s average daily crude steel output from the medium-to-large-sized mills affiliated with China Iron and Steel Association (CISA) fell in early November, declined 1.8% in the first ten days of November to 1.635M tonnes from a revised 1.665M tonnes in the final eleven days of October.

Despite the cessation of short-term environmental curbs in northern China, MBR understands that many of the 120 Chinese steelmakers that hot-idled their blast furnaces have extended their production outages through until the end of last week. In fact, the associated uplift in domestic crude steel production and iron ore demand following the conclusion of the Asia-Pacific Economic Cooperation (APEC) forum on Wednesday 12th November has failed to materialise and has left some market participants uncertain on the direction of iron ore benchmarks. As a result, Metal Bulletin’s...

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