May 2019 | Steel Raw Materials
Supply jitters drive fines benchmark to 5-year high, but downward correction expected: Iron Ore Market Analysis
There are several factors pulling prices higher so far this year on both demand and supply sides.
The iron ore fines index has gone from strength to strength over the past months and climbed even higher last week amid market jitters concerning supply from Australia. Fastmarkets MBs MBIOI62 index edged above the $100 mark on Friday May 17 and averaged $97.66 per tonne by the end of the week. This is the highest weekly average since July 2014. It is also the first time the index has climbed above $100 in five years. The index dropped in the first two days of the week and later jumped on Wednesday onward after...
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