Iron Ore prices in Chinese spot market moved up before Chinese new year on reducing iron ore inventories at Chinese port and rising steel prices in domestic market.
“Buying sentiments are good in China as market see prices to stay firm after holidays. With falling stock on Chinese port, sellers have raised their offers by 20-30 Yuan. Australian PB fines was heard to be sold at $151-152/t CFR. Indian offers for 63.5/63 heard to be in range of $153-154/t CFR” said an iron ore trader based in China.
Leave a Reply