Global iron ore prices are at USD 80/MT, CFR China on 13 Jan’17. Prices remained stable amid less trading activities.
Starting this week, buying activities picked up as Chinese mills procured materials at the ports ahead Chinese New year holiday at the end of January, which gave momentum to the prices but towards the end of this week, prices became stable.
Demand for seaborne iron ore was moderate and is likely to increase by next week before holiday starts.
On 13 Jan’17, Dalian Commodity Exchange was witnessed at 607 Yuan (USD 88/MT), down by 0.50 Yuan (0.10/MT) against yesterday’s closure.
It is to be noted that, China iron ore imports were registered at 1.02 BnT in 2016, which was highest ever recorded.
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