Iron ore spot market prices held stable this morning and partial traders had obvious wait-and-see attitude, with late quotations. Spot cargo purchases of steel mills stand at a normal level supported by sufficient spot stocks.
Iron ore spot market shows fair performance today and traders are willing to deliver cargos. Steel mills focus on purchases of mainstream middle and high grade cargos. Newman lumps transaction volume climbs up and transactions are mainly witnessed at ports of Tangshan and Tianjin. Partial steel mills in north of Shandong province start to purchase from port Huanghua and Tianjin influenced by transportation.
Steel mills generally have enough stocks and demand is hard to grow. Iron ore spot stocks see large amount and many traders face great pressures in cargo delivery. Small traders are playing waiting games influenced by frequent price fluctuations. Large traders aim to earn profits and deliver cargos based on real market demand.
Sources:XINDE MARINE NEWS
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