Iron ore price higher on better demand, costlier steel

摘要

Iron ore inched up supported by better trading and higher steel quotes, with the oversupply affecting gains, as previously.Australian iron ore fines 62% Fe added $0.5/t in a day, reaching $54.75/t CFR on stronger buying interest both forseaborne and port material. “Mills were more active today because prices stayed firm”, a trading source told MetalExpert. Besides, Chinese steelmakers’ iron ore inventories at 22 day-worth, remain not high.