China's imported iron ore market was flat on Monday with sentiment
improved slightly on a rise in steel futures.
Indian fines of 63.5% Fe content Indian fines stood at $119-120
per tonne cfr China.
“The rebound in rebar futures today helped stabilise the market
sentiment,” said an iron ore trader in Shanghai.
Rebar prices on Shanghai Futures Exchange saw a strong rise on Monday, with the
most active May contract settling at 3,538 yuan ($563) per tonne, up 59 yuan
from the previous trading day.
“Steel mills still prefer to buy from iron ore stocks
at ports, as it is uncertain whether the rebound in steel prices can sustain
itself,” a Shandong trader said.
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