Consumer buying boosts iron ore

摘要

Singapore—Seaborne iron ore prices continued to strengthen on attractive steel margins and end-user restocking activities, according to market sources. S&P Global Platts assessed the 62% Fe Iron Ore Index at $86.65/dry mt CFR North China Wednesday, up 80 cents/dmt from Tuesday. The front-month December TSI swap was up 60 cents/dmt from Tuesday at $84.75/dmt Wednesday. Market sources saw supportive fundamentals for a continued rise in iron ore prices with steel margins estimated in the Yuan 400-600/mt range.