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Iron ore prices recover to USD 85 mark on steel market hopes in China-緊固件展-2015第十六屆廣州國(guó)際緊固件及設(shè)備展覽會(huì)-巨浪展覽-The 16th China(Guangzhou)Int’l Fastener & Equipment Exhibition
9/16/2014 緊固件展-緊固件采購(gòu)會(huì)-國(guó)際緊固件展-fastener expo |
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The week opening saw iron ore prices gaining traction after tepid gains on last Friday
TSI’s benchmark 62 percent grade iron ore for immediate delivery to China .IO62-CNI=SI rose 3.9% to USD 85.20 a tonne, extending Friday''s tepid gain of 0.4 percent
The most traded iron ore future contract for delivery in January on the Dalian Commodity Exchange also closed up by 1.5% to CNY 598 a tonne
There was a slight recovery in Chinese domestic steel prices after ages as outlined in “Rare rally in long prices in Chinese steel market”. The steel futures also recovered a bit in unison. January rebar contract on the Shanghai Futures Exchange rose nearly 2% to end at CNY 2,826 per tonne
Spot iron ore fell to USD 81.90 on last Thursday, its lowest since September 2009.
But the outlook remains fragile as the problems of Chinese steel market have not changed. In fact, China''s factory output grew at the weakest pace in nearly six years in August while growth in other key sectors also cooled, raising fears the economy may be at risk of a sharp slowdown unless Beijing takes fresh stimulus measures.
緊固件展-2015第十六屆廣州國(guó)際緊固件及設(shè)備展覽會(huì)-巨浪展覽-The 16th China(Guangzhou)Int’l
Fastener & Equipment Exhibition
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