Iron ore prices rise on stronger steel margins

摘要

Seaborne iron ore prices picked upMonday amid keen interest from China buyerswho were bullish on the steel market.The 62% Fe Iron Ore Index (IODEX) wasassessed at $62.50/dry mt CFR North ChinaMonday, up 85 cents from Friday.Strong margins were aiding demand, aswell as expectations the steel market wouldfirm into the fourth quarter. The spot priceof square billet in Tangshan, a barometer ofmarket health in the steelmaking hub, roseYuan 60/mt from Friday to Yuan 2,180/mt($327.25/mt) ex-stock Tangshan