Iron ore jumps as mills stock before winter cuts

摘要

The seaborne iron ore marketjumped Monday as demand for medium to highgrade iron ore fines peaked.S&P Global Platts assessed the 62% FeIron Ore Index at $75/dry mt CFR North ChinaMonday, up $1.55/dmt from last Friday. Thefront-month November TSI swap rose $1.40/dmtto $72.90/dmt.Buying interest from steel mills remainedstrong on Monday. As winter heating seasonapproaches, steel mills in northern China wererunning at high rates to complete as manyorders as possible before November, in theanticipation that large-scale production cutsmay officially start from early or mid-November.