February 2018 | Steel Raw Materials
China market reflects holiday lull: Iron Ore Market Analysis
Supply and demand keep driving the iron ore market despite the increased influence of sentiment from derivatives trading.
A calm week in the iron ore market. The past few days have been very quiet for iron ore with very limited buying activity as the Chinese buyers and sellers were absent due to the Lunar New Year celebrations. Metal Bulletins 62% Fe fines benchmark averaged 1.6% higher than the previous week as it settled at $77.77 per tonne the week ending Friday February 16. In fact, since the official Lunar New Year started Thursday last week, the MBIOI-62 has not moved at all and remains at $78.43 per tonne. ...
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