Chinese steel restocking boosts raw materials: Macquarie

摘要

Chinese steel restocking is fuelling expectations of further price increases in iron ore and coking coal, according to investment bank Macquarie. Traders in China target $130-135/dry mt CFR China for iron ore, up from the low $120s as assessed by Platts earlier this week, with “perhaps even more upside seen in met coal and coke,” the bank's commodities research team said in a note Wednesday.