Research

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

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February 2017 | Steel Raw Materials


Prices deflate but fundamentals yet to hit home: Iron Ore Market Analysis


The steel stock overhang is expected to linger and generate negative sentiment for iron ore consumption moving forward.

Activity was mostly light over the first half of the week, as consumers remained on holiday following the Chinese New year. Nevertheless, as normal trading resumed, prices tumbled. On a week-on-week basis, the index price for spot ore delivered to China (normalised to Qingdao/62% Fe) decreased by 3.3% to $80.60/t CFR, while those for pellet were unchanged at $108.58/t CFR (Fe 65%). In respect of tenders, Rio Tinto sold a cargo of 61% Fe Pilbara Blend fines at $79.45/t CFR (laycan 26th February–7th March), down by...

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