Iron ore market rises on confidence in steel

摘要

The seaborne iron ore market recovered Tuesday on improved confidence in steel margins. S&P Global Platts assessed the 62% Fe Iron Ore Index at $88/dry mt CFR North China Tuesday, up $1.20/dmt from Monday. The front-month April TSI swap was up $1/ dmt from Monday at $84.40/dmt. Steel mills were heard making profits of Yuan 200-300/mt on average from steel production, and some buyers have shown interest in taking fixed-price cargoes in the seaborne market.