Chinese iron ore and steelmaking prices January 31 2018
Spot market morning offers saw ups and downs today. Most small-sized traders show obvious desire to deliver cargos influenced by futures market and falling transaction prices in recent days. Large traders hold their sales stable and have confidence in the following market. Steel mills have witnessed frequent purchases in recent days. Although spot market has not seen intensive purchases, steel mills make purchases continuously in order to push up stock level before the festival.
Overall market performance remains fair today, while real market transactions keep flat, with no obvious growth. On the one hand, steel mills see continuous purchases and stocks go up obviously. On the other hand, partial mainstream resources are in shortage in ports and thus traders are desire to raise the prices.