Spot iron ore Fe 62% fines surged by $7.65/t to $217/t CFR China on stable market fundamentals and hopes of a pick-up in demand. Market sources were optimistic on demand as current margins are good for higher quality raw materials. Meanwhile, iron ore futures recovered from the losses in its last trading session, moving up by RMB 24.5/t on 17 May’21.
Leave a Reply