Steel Products
Final Thoughts
Written by John Packard
January 9, 2013
The one other area bearing watching is the spot iron ore market in China. Based on recent TSI numbers 62 percent Fe fines were referenced at $158.5/dmt as of January 8th. Over the past four weeks, 62 percent fines have risen by 27 percent and are almost double their fifty-two week lows of $86.7/dmt.
Our iron ore trader was out of the country with Chinese clients today. I hope to get more information about the iron ore spot market and what we can expect after the Chinese New Year. A number of analysts are forecasting a correction in ore prices (or a jump in steel prices).
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John Packard
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