Iron ore prices edge up on increased port trading activity in China The seaborne iron ore market remained relatively muted on Wednesday February 16, and a rebound in trading activity was noted at Chinese ports, with volumes surpassing transacted volumes the previous day, sources told Fastmarkets.Key driversTrading activity at Chinese ports was robust, and volumes far surpassed the transacted volumes of the previous day, a Xiamen-based analyst said. This was likely among the factors helping to the boost iron ore prices, he added.Nonetheless, seaborne trades continued to remain particularly thin for forward cargoes, with most buyers hesitant about concluding deals amid uncertainty following recent announcements by China’s National Development and Reform Commission (NDRC), a Xiamen-based trader source said.There is ample supply of Pilbara Blend fines (PBF) with March laycan in the seaborne market with ongoing limited demand, a trader source from Shandong said. But most market participants are optimistic for iron ore demand to firm up toward the second quarter of 2022, due to an expected increase in steel consumption in the real estate and construction sectors.
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Iron ore prices edge up on increased port trading activity in...
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