Spot iron ore prices in China continued to be steady on Wednesday
as some steel mills suspended purchases of the raw material until they see a
decisive lift in steel prices first.
Offers for Fe 63.5/63 of India fines were steady at $ 188-190/MT.
“Iron ore prices have been stable at these levels since
last week and look likely to stay that way for a few days. Fe 63.5/63 is quoted
at around $189-190/MT. But deals are heard being concluded at $188/MTâ€Â, said an
Indian exporter.
The most active January rebar futures on the Shanghai
Futures Exchange rose 0.46 percent to 4,816 yuan ($754) a tonne by the midday
close, and have moved within a range of 100 yuan since mid August.
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