Prices end year on relative high on strong steel margins

摘要

The seaborne iron ore market strengthenedover the first half of December as 62% Fespot prices returned to the $70/dry mt CFRlevel due to healthy demand from mills formedium-high grade Australian material,particularly brands such as Pilbara Blend.With steel prices hitting record highs in thecase of domestic Chinese rebar, mills areless concerned about iron ore prices andmore concerned about having sufficientsupply to ensure they continue to produce athigh levels and enjoy the excellent marginson offer.