extracts from sp angel news today19 Jun 2020 12:22
Iron ore 62% Fe spot (cfr Tianjin) US$103.05/t vs US$102.75/t - Iron ore prices continue to rise in China as demand for steel rises
Iron ore carrier scuttled at sea with 125,000t of iron ore still onboard
The Stellar Banner ran aground off the coast of São Luís, Brazil with 270,000t of iron ore on board
The salvage crew managed to recover 145,000t of iron ore before towing the ship into deeper water for sinking
The sinking of the ship may provide scientists with some interesting data on the impact of iron ore in the deep water environment
We believe iron is good for algal growth in surface waters which is also good for carbon capture and for feeding plankton and other organisms.
Chinese steel rebar 25mm US$525.7/t vs US$525.7/t - Steel prices rise in China
Rebar, hot-rolled coil and stainless steel prices are all rising on new demand for regional and national construction projects in China.
Iron ore and steel prices rise in Chin driven by new local and national infrastructure projects
China is restoring and ramping up growth in its economy through the funding of new local and national infrastructure projects.
New demand for rebar, hot-rolled coil and stainless steel is driving domestic Chinese prices higher
We expect many related base metals and other commodity price to follow.