Prices should be supported in Q3

摘要

Benchmark 62% Fe iron ore prices have continued to be supported on strong demand, improved steel margins and some supply tightness. The S&P Global Platts 62% IODEX closed at an eleven-month high of $112.70/dmt on July 15 before adjusting down to $110.45/ dmt on July 17, up 3.2% on the week. Chinese crude steel production continues to be strong after recording record daily operating rates in May and June. Heavy rains in parts of China are not expected to have any material impact and demand will improve again in the latter part of July.