Chinese iron ore market picks up temporarily, but physical prices up only slightly

摘要

The sentiment in the Chinese iron ore market has improved on Monday on the back of higher futures prices. However, end-user demand is continuously slack, so deals are rare and prices in the physical market move up insignificantly. Offers of Australian 62% Fe ore fines are at $96/t CFR against $95-96/t CFR last Friday. Some suppliers are already quoting the material at $97/t CFR, but this is not an average market price. Many end-users are bidding at $94/t CFR at the most.