China’s spot market remained firm, as futures market and derivative markets remained buoyant, leading to more active trades from steel mills. Traders held prices stable but had desire to hike prices.
Today’s inquiries focused on mainstream iron ore resources, especially Jimblebar fines which steel mills deemed with higher cost performance. Transactions concluded recently were medium and high grade fines, low grade FB fines showed flat sales.
Iron ore transactions were desirable while partial traders were inclined to underselling due to unfavorable news. Some medium-sized traders tended to do the bottom-finishing in light of buoyant futures market and active trade at spot market.
Sources:XINDE MARINE NEWS
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