Research

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

Change font size:   

August 2015 | Steel Raw Materials


Depreciating currencies aggravate price slump: Iron Ore Market Analysis


MBR believes falling iron ore prices have partly contributed to the depreciation of major iron ore exporting nations’ currencies, particularly Australia and Brazil.

Chinese seaborne physical spot iron ore import benchmarks found support and climbed 6% over the past week to $55.63/t, CFR Qingdao, on Monday 3rd August. Some traders suggested iron ore prices were spurred by better sentiment after the recent announcement that Beijing won the hosting rights to the 2022 Winter Olympics, and associated infrastructure works which will be built for the event. Indeed, prices of northern China Tangshan domestic billet ex-works and eastern China domestic rebar ex-warehouse rose 4% and 10% respectively week-on-week to RMB1,880/t ($303/t) and RMB2,115/t ($341/t)...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?