Fears resurface around tight prompt iron ore supply

摘要

Spot iron ore prices increased for the first time in almost two weeks Tuesday as worries returned over tight prompt supply. Platts 62% IODEX rose 75 cents to $60.75/dry mt CFR North China on day. “Traders do not have many cargoes on hand and prompt supply is still tight,” a Hong Kong-based trader said, estimating port stocks would recover only in August — inventories at major ports fell 960,000 mt from Friday to 78.66 million mt, according to an industry report released Tuesday.