While the Chinese iron ore import market had started this week with an upward trend, the stagnant demand in the market yesterday caused the market to fall again after five days of upward trend. The average price index for imported iron ore 62% fell by 1.8 dollars per day, and was recorded at 102.3 dollars per dry ton CFR.
According to reports, the profit margin of Chinese steelmakers continues to fall, but the decline in production is not enough to seriously affect the purchase of iron ore. Iron ore inventories at the mills are still relatively low, but with weak margins on imports, the focus is mainly on buying at the ports.
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