Thursday, 14th April
Spot offers of iron ore to top buyer China stood unchanged for a third consecutive day on Thursday after hitting $190 per tonne for 63.5/63 Fe cargo..*, with traders watching for clearer guidance on near-term market direction.
Iron ore price stood unchanged at $188-190/T Shanghai rebar slipped after short-lived rebound
Traders splitting views, still cautious
Trade in Shanghai rebar futures was volatile this week, triggering growing caution among iron ore traders.
“The market view is largely split after fast gains in iron ore prices over past few weeks, but I still expect prices to stabilise in the coming days,” said an iron ore trader in coastal Shandong province.
Small and medium-sized Chinese steel mills, facing tight credit liquidity, are less keen to rebuild up stocks after prices surged 12 percent from mid-March.
Source: Reuters
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