My source must be on holiday as well, no market updates today. So these are from my other researchs:
This is from mysteel website:
[Apr 14] Imported Iron Ore Port Stocks (mln ton)
Port Stocks This Week Last Week Change
Total 132.36 133.74 -1.38
Trade 42.71 43.31 -0.63
Australia 70.09 71.60 -0.99
Brazil 29.26 29.55 -0.29
Looks like IO inventory down another 1.38MT from last week, that‘s 2 weeks in a row now, still 130MT+ though, under 100MT would be ideal.
Steel spot market was good on Friday, strip, wire, rebar, hot roll, sheet and tube all up yesterday. Transactions were good on Friday.
No IO price update on Friday due to Easter, but in Tangshan market seaborne IO down another 15 yuan. Today price is steady.
Today, steel market gone quiet again. In Tangshan, rebar (+20) and strip (+30) had gains, but wire (-50) and sheet (-30) were down. Due to quiet transactions, Tangshan Billet ended the day down 60 yuan to 2820 yuan.
So so far 1 good and 1 bad from 4 days holiday, finger cross tomorrow and Monday, market will get active again.
DYOR.
Frank.
Iron ore price, page-658
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