Iron ore spot prices have witnessed marked growth from yesterday, which were spurred by Sino-US trade war in tandem with upswing futures market. Traders and steel mills are both bullish on the coming market, thus traders tend to hold up offers and steel mills begin replenishment.
Spot market remains active today and trading volumes increase from yesterday, in particular in Shandong and Tangshan ports. Medium and high grade iron ore resources are in smooth sales, mainstream low grade iron ore fines also see some demand. In comparison, non-mainstream iron ore fines, iron ore lumps and pellet are in dull sales. Steel mills have low buying interest for imported iron ore pellets due to high cost.
Sources:XINDE MARINE NEWS
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