Thursday, November 25,
Spot prices of iron ore fines remain constant, buying interest remained low.
“The key reason for slim buying of iron ore is the over rapid rise of prices, which was caused from an anticipation of rising prices in the first quarter, but it is too early to make a big price rise now,” said a iron ore trader in Shanghai.
“Our customers don’t lack stocks, and I haven’t heard any big transactions so far this week,” the trader added.
Iron ore forward swaps, December contract went up by $1.55 to $163.85/MT and the January contract rose by 85 cents to reach at $157.25/MT
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