In today’s briefing:
- nib holdings Ltd – The Monday Report – 07 July 2025
- Iron Ore: Small Bounce From 96 to 100 USD/Ton As China Mill Margins Turn Positive
nib holdings Ltd – The Monday Report – 07 July 2025
- Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead
Iron Ore: Small Bounce From 96 to 100 USD/Ton As China Mill Margins Turn Positive
- Following nearly a year of being in the negative, China’s steel mill margins have finally turned positive, primarily driven by a decline in coking coal prices.
- Iron ore prices have bounced 3% WoW, to 96 USD/ton, due to short-lived positive sentiment. We reiterate a short-term bounce to the 100 USD/ton level.
- In the medium term, we anticipate iron ore prices declining to $85/ton by early next year, when Rio’s 120 million-ton Simandou project commences.
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