Spot iron ore market
in China comes to a standstill with most of the buyers & sellers being away
from the market.
Prices of Indian fines Fe 63.5% remains unchanged at $142-144/MT
CFR China. Australian Newman fines also stays at $138-140/MT (CFR China).
The most active rebar futures on the Shanghai Futures Exchange fell marginally to reach 4,234 yuan ($669)/MT on Wednesday as compared to 4,236 yuan/MT in the previous close.
“Market remains quiet with most of the iron ore suppliers
and buyers away on Christmas holidays. Activities might pick up by mid of
January when steel mills will start restocking ahead of the Lunar New Year”
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