Platts 62 US$98.10 up $0.75MTD US$105.49Overnight Sessions:Shanghai Steel Rebar Future -0.49%Dalian IO Future -1.17%After a few days of steep falls in steel prices due to weak demand, some steel mills are considering going into maintenance as profit margin shrunk, with less steel supplies on the market, we will then see steel prices stabilised.
IO spot market yesterday saw more purchases of mid to low FE IO (58~62%), as steel mills try to cut their costs. IO prices were similar to previous day.
Don't let the media fool you, IO prices are now near or at cost curve of high cost producers, prices will stabilised soon and rise again once IO supplies are reduced.FYI
Platts 62 US$98.10 up $0.75MTD US$105.49Overnight...
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Last
$25.66 |
Change
0.090(0.35%) |
Mkt cap ! $79.00B | |||
| Open | High | Low | Value | Volume |
| $25.72 | $25.86 | $25.63 | $77.37M | 3.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 11417 | $25.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $25.70 | 2000 | 1 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$25.72 |
Change
0.090 ( 0.55 %) |
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| Open | High | Low | Volume | ||
| $25.72 | $25.86 | $25.64 | 785342 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| FMG (ASX) Chart |