The price of iron ore imported to China has experienced a slight growth for the fifth consecutive day, with the slight improvement of the market fundamentals. In the meantime, market participants are cautiously looking at the trend of China's macroeconomic news.
According to the reports, the latest iron ore price index of 62% purity has increased by 55 cents to $104.1 per dry ton.
China's short-term crude steel production is expected to remain flexible and some stockpiles at Chinese ports are expected to decrease, so more iron ore purchases may be expected soon. But despite the fact that the price of iron ore is currently around $100 per ton of CFR China, most steel mills continue to buy iron ore only based on their immediate demand.
Comments
No comment yet.