SUPPLY FEARS KEEP IRON ORE IN TIGHT RANGE

摘要

Iron ore moved in a tight range today, as firm Chinese buying restrained the commodity from a steep fall after hitting a 10-'week high last Thursday. Supply disruption from mines across India supported the move. Experts believe the steel-making raw material will rebound to surpass the 200 dollars-a-tonne mark very soon. The benchmark Indian origin iron ore, with 63.5 per cent of iron content, was trading at Chinese ports at 184-186 dollars a tonne, compared to 191 dollars a tonne last week. Australian origin fines (the term for ore pieces smaller than six mm) were trading at 182-184 dollars atonne. The commodity recorded a minuscule 1 dollars decline from the previous day.