The imported iron ore prices remained unchanged from yesterday in the morning. Affected by the shocking futures market, partial hedging traders are willing to sell resources. While the large number of traders held stable sentiment with normal shipment for gaining profits. Steel mills saw active attitude toward the spot iron ore market, while the real transactions were a little unfavorable.
Although steel mills have willing to buy resources, they remained wait-to-see attitude toward the iron ore prices as the spot market was flat today. Partial steel mills held strong demand for high-grade ore with low alumina. Specifically, most of the transactions in spot market at ports were medium and high grade resources. Prices of lump and pellet stayed high with increasing transactions. As predicted, the demand for lump and pellet is to be go much higher in the future. While trading prices were generally stable compared with that of yesterday. Some traders expressed that it takes high risks to enter iron ore spot market, so the market operation is unsatisfactory currently.
Sources:XINDE MARINE NEWS
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