Mysteel: Raw Material Market Highlight (Feb 13—Feb 17)
Imported iron ore price went up 20-40 yuan/ton on last Monday. The oscillation on the futures has a great impact on the spot transactions. Generally, the spot transactions over the last week was better than that on Monday. The bids and offers for the forward cargoes mainly cover the high grade ores from Australia. By the Feb 17, PB fines traded at index +$3.5 which laycan in March. The high price of forward pushed the mills' procurement to turn to spot purchase at ports.