January 2018 | Steel Raw Materials
Downside risks rise after sentiment-related boost: Iron Ore Market Analysis
Last week, the daily MBIOI62 increased even further to average $78.33 per tonne cfr; the highest level since the late August peak, and has only started to come down now
Last week, the daily MBIOI62 increased even further to average $78.33 per tonne cfr; the highest level since the late August peak. As we detailed last week, seasonal weather concerns, of greater import than normal, have caused buyers to stock up even amid a dearth in actual demand and a plethora of supply, if mainly for lower value ores. As a result, port stocks have ballooned to more than 150 million tonnes; an unprecedented level both in absolute terms and as...
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