The spot price of iron ore Fe 62% fines moved up by $1.9/t to $189.55/t, CFR China, as demand in the spot market improved on 28 May’21. Market participants were looking to secure iron ore fines cargoes. Mainstream medium-grade Australian fines were the preferred choice of traders due to the reliance from Chinese mills, which was supporting reselling opportunities at the quayside. Weakening steel margins in China seem to be narrowing the premium for high-grade cargoes despite supply concerns from Brazil.
Leave a Reply