Chinese iron ore and steelmaking prices November 23 2017
Morning offers of traders basically held steady today compared with that of yesterday. Traders show strong desire to lift the prices influenced by strengthening spot market transactions in recent days and growing futures. Steel mills’ demand for iron ore remains unfavorable on account of production limitation measures and high prices.
Iron ore spot market shows flat performance today and a strong wait-and-see attitude can be witnessed. Most traders expressed that steel mills still depress spot purchasing prices given environmental policies. Overall demand climbs down and their own iron ore stocks could maintain normal production. Therefore, they focus on cargo shipments in recent days and prices are negotiable.