Monthly Iron Ore Market Report Jun 2019
2019-07-12 19:06:11 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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Prices of both Chinese origin and imported iron ore soared in June. Supply was very tight in the spot market due to decreasing import in the month. And as steel mills still could make some profits, they maintained as high operation rate as possible, which resulted in strong demand of iron ore. Many steel mills were forced to cut iron ore inventory in the month, but still failed to push down iron ore prices. In the meanwhile, prices of metallurgical coke kept sliding, lowering steel production costs accordingly and allowing steel mills to bear higher iron ore prices. Insiders mostly believe iron ore supply can hardly improve much within July and prices of iron ore may stay firm as a result.
