August 2017 | Steel Raw Materials
Fines benchmark price buoyed by firm demand: Iron Ore Market Analysis
Although the movement the past week was driven by sentiment around statements about temporary steel capacity closures, fundamental data suggests the recent iron ore price rally might be losing steam
Continued strong demand has kept iron ore prices above $70/t throughout August, but the past week shows the first drop in the weekly average iron ore price benchmark since June. There was both upward and downward movement in Metal Bulletins iron ore benchmark this recent week. After having fallen the first three days of the week, prices later surged 7% in only two days as the benchmark edged close to $78/t on Friday 18 August. The weekly average price finally settled 1.2% below last week, at $74.94/t, normalised...
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