Friday, March 25,
Spot iron ore market in China showed some signs of stability.*Some Chinese mills were seen restocking iron ore, but volumes remained low given by lackluster steel prices.
Rumors of a roll back of duty still persist and exporters hold back their cargos in anticipation.
According to traders in China, “Iron ore prices are likely to stabilize at current levels unless Chinese steel demand picks up strongly. China has been tightening monetary policy. So, Credit is a bit of an issue and people are not forward ordering a lot of material as they’re not willing to build up their own inventory until demand picks up well”
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