China's spot iron ore market is mainly reigned by wait-and-see atmosphere, with traders holding quotations firm. Steel mills sustain normal procurement.
Spot iron ore market remains flat along with slim transaction in spite of many inquiries calls in the morning. Partial small-sized traders are eager to deliver good, providing limited bargaining room. Transactions are still concentrated on mainstream iron ore, with trading prices generally levelling off from last Friday. Individual ports have seen a slight price decline in the morning.
Futures market remains strengthened today with wide fluctuation, which makes many participants in wait-and-see mood. Steel mills have stocked up large volumes of iron ore last week and possess high inventories, thus they have no procurement plan this week.
Sources:XINDE MARINE NEWS
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