Monday, July 25,
Spot iron ore in China holds steady on Monday as traders wait for some direction and show reluctance in buying the raw material.
Offers for Fe 63.5/63 of India fines remain firm at $182-184/MT and offers for Fe 62 of Newman fines from Australia was also steady at $179-$181/MT
The recent gains seen in steel prices in China have slowed since the last week as flat steel mills have faced weaker demand and were thus reluctant to accept rising offers.
The Shanghai rebar futures eased slightly on Monday, with the October contract off by 0.28 percent to reach 4,911 yuan ($762)/MT by the morning close.
According to traders based in China, “There are no big pricing movements on the first day of the week, and we are looking for some clear clues for prices”
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