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Chinese iron ore and steelmaking prices November 24 2017

Iron ore spot market offers and transaction prices have seen large growth today, especially focusing on middle and high grade fines. Low grade fines show limited upturn. Iron ore futures contract 1801 prices grow significantly today and partial traders who involved in both spot and futures market suffers great difficulties in cargo shipments.

Steel mills have not accepted iron ore futures price growth in recent days. Iron ore price growth has not gotten any real demand support under production limitations of steel mills. Steel mills said that following market prices are expected to climb down amid fluctuations. Traders also expressed that although market prices go up, purchases from steel mills decrease obviously.

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