Imported iron ore prices in China went up on higher steel
prices and firm demand. Mainstream prices of 63.5% Fe content Indian fines
stood at $124-125 per tonne cfr China during the day, up from $122-124 per
tonne cfr on Friday.
“There are many enquiries today thanks to stronger steel prices. Spot
prices of imported iron ore at ports generally rose 20-30 yuan per tonne,”
one iron ore trader in Shandong said.
Most sellers are holding onto their stocks at the moment,
waiting for higher prices, market participants said. There have been no tenders
by large miners today, they added.
“As long as steel output remains high, the demand for
iron ore will be fairly firm,” a steel mill source in Beijing, said.
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