Imported iron ore spot market performed weak today, with flat quotes. Mainstream fines witnessed slight decrease in transactions with RMB 5/tonne and the transactions remained poor. Steel mills held relatively plentiful stocks and wished low-priced resources. In this situation, buyers were not active in procurement but just held wait-and-see attitude. Futures market of iron ore and rebar went opposite: rebar futures climbed up again but iron ore futures contract 1501 slipped RMB 6/tonne. Although steel market gained some postiive signal, but soft demand and tight cash could not support iron ore prices to tick up.
Source: hellenicshippingnews
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