Thursday, September 30,
Post autumn holiday some vibes have been felt in the Iron ore market. It seems with the National Holidays knocking on the door faint desperation seems to have set in.
At the same time production in Hebei, Shandong and Guangxi provinces is expected to increase as the restriction on electricity use is removed up to a certain extent leading to enhanced demand for Iron ore.
Spot Iron ore is showing buoyancy with Fe 63.5/63 cargo being quoted at $149/MT. Demand is expected to rise further after the week-long Chinese National day holidays starting October 1 precisely due to the momentum set in.
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