Iron ore to remain stuck at 130-150 dollars/dmt: Macquarie

摘要

Iron ore prices are likely to remain rangebound between 130 dollars and 150 dollars/dry mt CFR China for 62% Fe material due to a lack of “short term catalysts” to take prices higher, Macquarie Bank said in a report Monday. China's mills are currently unwilling to pay more for iron ore and prices of the raw material are closely correlated with steel markets that have deteriorated in May and June, Macquarie Commodities Research said.