Iron ore spot market sees flat performance today and morning offers of traders basically stayed stable. Real market offers are negotiable. Steel mills mainly take wait-and-see attitude towards the following market and purchase mainstream Australian fines at a small amount.
Spot market witnesses no obvious improvement today. Transactions focus on middle and high grade Australian fines. Transactions of Brazilian cargos remain unfavorable. Transactions are mainly seen at ports of Tangshan and Shandong. Transaction volume of Newman fines and lumps climb up rapidly supported by growing demand in recent days.
Recent spot market transactions are mainly concluded by steel mills and purchases of traders continue to decrease. Some large-sized traders start to play waiting games influenced by diving market prices and postpone their cargo shipments. Demand of steel mills basically stands steady, while their purchasing amount and method have changed. They make purchases by more times at smaller amount to avoid potential risks.
Sources:XINDE MARINE NEWS
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