Chinese iron ore and steelmaking prices December 6 2017
Morning offers of traders basically held stable today. Partial traders are not willing to sell the cargos influenced by large spot market transactions. Most traders said that the prices see rapid growth and they focus on short term deals. Steel mills generally keep wait-and-see attitude and their demand for iron ore decreases due to continuous production limitation and environmental policies in partial regions. Moreover, iron ore prices have seen large upturn in recent days.
Iron ore market shows strong performance today and transactions focus on mainstream fines. Lumps and non-mainstream resources witness unfavorable transactions. Iron ore prices and transactions have seen continuous growth since the beginning of this week because some steel mills hold a low level of iron ore stocks and have certain demand. Additionally, some small-sized spot market traders are bullish towards the subsequent market and are willing to replenish the stocks. Iron ore spot comes back to a reasonable level gradually and prices are predicted to move steady in the short term.