Iron ore price kept recovering amid slightly better trading, higher futures and steel price. Australian iron ore fines 62% Fe increased by $0.75/t to $92.5/t CFR following al- most the same rise in September contracts on the dCe. Purchasing activity in the seaborne market expectedly revived, with the first deal reported since last Monday, amid steelmakers’ low inventories and high steel production. Trading volumes kept growing at ports, with prices adding RMB 5-15/t ($0.7-2.2/t). due to the elevated mills’ margins, “high-grade ore remained in buyers’ focus,” a trading source told Metal expert. Besides, “prices for lumps [at ports] rose faster than those for fines amid output cuts in Tangshan,” he added.
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