Iron ore marginally up in China, $60/t CFR not to be breached in short term

摘要

Seaborne iron ore was mostly stable in China, with a marginal pick-up of $0.5/t over a day due to somewhat improved demand and higher than expected tender results. Price curve goes in line with traders’ expectations that the prices will hold at the current levels for the short term. Australian iron ore fines 62% Fe were assessed at $62-63/t CFR on Wednesday. “I guess, it was Rio’s tender for 61% grade [closed at $62.01/t CFR], that eventually lifted the market. At the same time, the demand was also a little firmer today,” a market insider told Metal Expert.