Iron ore spot market prices hold stable and see slight decline compared with that of yesterday as both traders and steel mills concluded deals yesterday under the rising prices. Transactions keep slack today and prices have not sustained the rise. Many market participants have not accepted the price growth.
Iron ore spot market remains slack influenced by growing prices yesterday. Downstream market players don’t accept the price growth and mainly take a wait-and-see attitude. Market enquiries stand slack and transactions see few amount. Steel mills have finished their purchasing plan facing the coming weekend. Thus, market transactions witness small amount.
Spot market transactions stay sluggish and large-sized traders have desire to lift the prices. They are not willing to undersell the cargos. Steel mills have weak purchasing desire as they have finished the purchasing plan and have unclear forecast for the following market.
Sources:XINDE MARINE NEWS
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