Steel futures on Shanghai exchange continue to remain strong (up by 2%) amid strong economic data and rising raw material prices. Sources tell that steel mills in China plan to raise domestic prices on strong demand and bullish sentiments.
Overall trading activities remained low on Christmas and New Year holidays. Chinese trades anticipate spot iron ore prices to stay strong in 2013 on hopes on economic growth by new leadership in China.
Indian 63.5/63 Fe iron fines remain firm at $140/t CFR levels and mill scale at $145/t CFR China.
Leave a Reply