Spot iron ore prices remains firm on Thursday ahead of an
anticipated rise in demand during the upcoming peak season.
However, Global miners like Rio Tinto and Vale are expected
to keep their prices almost steady in the fourth quarter.
Offers for Indian fines Fe 63.5/63 remain at $189-$190, i.e.
same as yesterday. Whereas, Australian 62% Newman fines rose by $1 to reach $183-$185/MT
(CNF)
“There is some buying interest in the market and the
industry is on the up again. Steel mills in China expect a seasonal steel
demand to pick up in September and October ” said a Hong Kong-based
commodities broker.
The most active January rebar futures on the Shanghai
Futures Exchange however closed the morning session by 0.08 percent lower at
4,827 yuan ($757)/MT on Thursday as against a one-week high at 4,842 yuan/MT
earlier.
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