Spot iron ore prices in China remain unchanged on Wednesday
but traders said the underlying poor health of the steel sector would continue
to restrain demand.
Indian fines Fe 63.5/63 is quoted at $145/MT i.e. unchanged from
the previous trade price. Whereas, Pilbara fines with Fe 61.5 is quoted at
$136-138/MT
“The whole market is poor and prices still aren't ideal.
We won't be able to meet our sales target for this month,” said the
manager of an iron ore trading firm based in southern China.
“Demand ultimately depends on steel mills and they just
can't accept our prices right now, and we can't go lower because our costs are
too high,” the trader said, adding that he didn't expect the market to
recover until next month.
Leave a Reply