Iron ore prices rebound on higher steel prices in China

摘要

Singapore—Seaborne iron ore prices rose sharply as traders bid up cargoes on strong steel market fundamentals. S&P Global Platts assessed the 62% Fe Iron Ore Index at $189.65/ dry mt CFR North China on May 4, up $3.20/dmt from May 3. Chinese steel prices continued to strengthen during the Labor Day holiday, on tightening steel market. Some sources expected the higher steel prices to lift iron ore prices too. A couple of international traders were looking for Pilbara Blend Fines cargoes arriving in June on globalORE and during Platts Market On Close process.