Morning offers of traders held steady compared with that of yesterday. Many traders are willing to lift the prices to deliver cargos supported by better market transactions in recent days. Steel mills have basically restored production and implemented the peak-shift production plan during in non-heating season. Steel mills have purchasing plan for spot resources and focus on mainstream resources.
Market transactions: Spot market remains brisk today and individual steel mills have tender plan. Most steel mills make enquiries. Market transactions climb up slightly and transaction prices hold steady. Partial product prices have further upward momentum.
Market supply and demand: Steel mills restored production in succession at the end of Mar and their spot market demand for iron ore climbs up. Thus, iron ore spot market transactions have grown obviously in recent days. Iron ore stocks of steel mills have kept at a low level for a long time. Moreover, facing the coming Tomb-sweeping Day, market demand is predicted to edge up. Some market participants expressed that mainstream prices may increase in the coming days.
Sources:XINDE MARINE NEWS
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