Spot iron ore prices remain almost unchanged on Thursday.
However, sellers are keen to cut their offer prices in order to lure buyers.
Fe 63.5/63 of Indian fines is quoted same as $148/MT.
“Selling has become increasingly difficult given the
recent fall in steel prices. Steel prices have
stabilised today but buyers are still taking a 'wait-and-watch' approach to check
whether this is a one-day phenomenon or if it will last for a considerable
period of time.”
The most-traded rebar contract for October delivery on the Shanghai
Futures Exchange was little changed at 4,273 yuan ($680) a tonne by midday on
Thursday, after hitting a seven-week trough of 4,251 yuan in the previous
session.
Leave a Reply