Spot prices of imported iron ore were quoted stable in the morning except for individual products at northern ports; steel mills showed strong buying interest and traders were bullish on the coming market.

Some traders tended to raise prices but failed, transaction prices leveled off from yesterday.

“Spot prices at ports remained robust,” said a steel mill who is about to replenish on low inventory. “Offers increased but transaction prices were stable from the previous day. Traders were willing to boost sales,” he added.

A steel mill located in Hebei province was waiting and seeing with normal iron ore inventories. According to him, albeit iron ore prices were on the rise in the short term, trading kept normal.

 

Source : hellenicshippingnews.com

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