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Prices of iron ore, coking coal, pig iron, scrap and zinc all rose over the month through January 22, 2020. Chinese 62% Fe iron ore reached a six-month high, with CRU's spot price at $95.30 per dry ton, up from $85.00 in late November.
Chinese steel output hit a record 996.3 million tonnes in 2019.
Steel-industry raw material prices are not a direct feed or grain driver, so the link to feed buyers is indirect. Higher steel margins can shift Chinese industrial and livestock-related demand only marginally.
steelmarketupdate.comPeter WrightJan 27, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
