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  • Iron Ore Swaps – still too cheap to sell?

    Swaps came under pressure following both the onshore futures markets down. But these all-time low levels are starting to look cheap given that the physical is not as weak as the paper (TSI actually printed +0.50 cents to $58.50 Tuesday).

  • FIS Fundamentals: Dark clouds gathering for US steel industry

    The move down in global steel prices has pushed the US HRC curve into a pronounced contango. A new – lower – trading range beckons as the US steel industry must regain pricing power by shutting down the import arbitrage.