February 2015 | Steel Raw Materials
Chinese buyers procure more from seaborne market: Iron Ore Market Analysis
Member mills of the China Iron and Steel Association (CISA) continue to find that steel demand is in retreat.
Major seaborne iron ore prices rebounded modestly days before the week-long Chinese New Year, as some buyers booked new cargoes for early-to-mid March delivery. In fact, MBR has heard that buying activity has picked up with three 140,000-150,000 t Capesize vessels booked from West Africa via Singapore to China over the past week. As a result, Metal Bulletins Iron Ore Index 62% (Fe content) climbed over the past week to stand at $63.02/t, CFR Qingdao, China, on 17th February, though this was down more than $2 from the three-week peak...
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