Traders generally held their morning offers stable today. Steel mills’ purchases decrease obviously under production limitations measures in Handan yesterday. Market transactions focus on middle and high grade cargos. Overall market prices move stable.
Market Transactions: Iron ore spot market shows flat performance today and transaction prices show no obvious changes. Traders have weak desire to conclude deals at low prices. Market enquiries from steel mills stand slack and their purchasing desire stays weak. Market participants mainly take a wait-and-see attitude. Overall market transactions keep slack.
Market Supply and Demand: Market transactions stand slack influenced by halted production of steel mills in Wu’an of Handan yesterday. The production suspension will continue to Mar 31, 2018. Local market demand drops significantly, which will affect overall market sentiment. Market participants are bearish towards the following market in the short term.
Sources:XINDE MARINE NEWS
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