Platts assessed 62%-Fe fines at $144/dry mt CFR North China, down $1 from $145/dmt. TSI 62% Fe was also down 1.3% to $144.7. 63.5/63% Fe was priced at $151 CFR by Platts. 63/63%-Fe Indian fines loading June 23-July 3 were sold on Wednesday at $154/dmt CFR North China, and 59/59%-Fe Indian lumps loading June 4-14 was sold at $118/dmt CFR North China.
The swaps market was flat yesterday, traders wait for further market direction. Steel futures rebounded again today, Oct steel futures is at 4087CNY currently. Weak demand for steel, 19 small mills were shut down due to government restructuring of the inefficient steel industry, iron ore stock starts accumulation at China ports all become a
concern for iron ore price.
With local iron-ore producers likely to follow suit, steel consumers could also be in for higher prices, especially at a time when the dispute between steel giant ArcelorMittal SA and Kumba Iron Ore threatens the local steel industries.
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