DCE iron ore future price fluctuated within a small range, which had small influence on the physical market. Offers remained stable in the morning, while prices for some products, like Brazil materials, have potential to increase. With stronger demand for iron ore from Chinese steel mills, medium-grade products witnessed significant increase of prices recently.
Today's trading volumes performed weak, but prices of PB fines and low-grade fines continuously gained a little further. Traders had high enthusiasms in sales. However, steelmakers changed to wait and see with expectation of lower prices in the near future after the restocking a few days ago. Some market players said that production cut might dampen iron ore demand during the upcoming heating seasons.
Sources:XINDE MARINE NEWS
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