Trading and prices in the spot iron ore market were lacklustre on Tuesday December 6 after a positive start a day earlier.
Key drivers China’s futures and steel markets largely levelled off during the day after notable gains on Monday. Iron ore prices, which participants say are tracking steel prices, were thus little changed. Trading activity at Chinese ports dropped, mostly because mills had bought a lot of materials the previous day.
Iron ore prices edged up to around $79 per tonne cfr China on Tuesday December 6 though the physical market saw limited trading activity.
Metal Bulletin’s 62% Fe Iron Ore index Today: $79.73 per tonne cfr Qingdao Daily change: up by $1.11 per tonne Month-to-date average: $78.63 per tonne Metal Bulletin’s 58% Fe Premium Index Today: $69.34 per tonne cfr Qingdao.
IO future continue to surge, 625 yuan +20 or 3.31%. Steel Rebar 3313 yuan +95 or 2.95%.
DYOR.
Frank.
Iron Ore Price, page-13824
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