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MacroBusiness Access Subscriber Only Content at 9:40 am on July 5, 2021 | 5 comments The ferrous complex was roughly stable Friday July 2, 2021 as spot eased, paper firmed and steel fell: June may have been a boom month for Brazil but it was a bust for Australia as RIO falls well behind its target run rate. Westpac: There are 1412 words left in this subscriber-only article. If May iron ore export volumes fell short of our expectations, then June exports really disappointed. After just 76mt in May, exports in June fell to 73.2mt according to our shipping activity models. That’s -10%yy and -6%3myy. Given recent price gains and the weather-based drag on exports in Q1, we had expected to see a stronger rebound in Q2. That clearly was not the case.

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