Spot iron ore nudges higher on continued demand

摘要

Spot iron ore prices gained furtherFriday as growing steel margins buoyed enddemand. Platts 62% Fe IODEX rose 25 cents to$61.65/dry mt CFR North China."Some buyers are waiting for the price todrop, but it is difficult when steel prices arefirming and mills in the coastal regions are ableto make decent margins of at least Yuan 200/mt," said a source at a steelmaker in southChina. Spot prices of square billet in Tangshanfirmed Yuan 30/mt on day to Yuan 2,280/mt($344.35/mt) ex-stock.