Hi FMGers,
I had a car accident this morning, I'm fine but a bit shaken and head is spinning a bit. So I'll post this and go lay down for the day.
Platts 62% US$79.35 up US$1.60
(Sorry other prices are at work, so can't post it).
Another COREX deal yesterday: FMG 58.3% IO, 80,000 wmt, delivery date 3/9-12/9, Price US$59.70/dmt, getting closer to my magic US$60/dmt.
Forward Spot Contract for 22/8/2017:
- FMG 58.3% US$59.35/dmt CFR Qingdao up US$0.40
- FMG 56.7% US$49.85/dmt CFR Qingdao unchanged
Both Yandi (BHP) and Robe Valley (RIO) unchanged, Robe Valley Fines now US$59.45/dmt, soon FMG's popular 58.3% will be more expansive. 62% benchmark also up US$0.40 yesterday.
As of yesterday, Tangshan Billet Inventory from 16 Major Storage totaled 219KT, up 12.5KT from last week, sourced from SteelHome.
There are no bad news affecting the IO Future, just profit taking like I said yesterday, taking a breather. Steel market were not strong yesterday, so the Market probably think Steel prices are a bit high. Buy in dips if you are still accumulating.
Have a good day.
DYOR.
Frank.
Iron ore price, page-2553
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