Firming steel market filters into stronger spot iron ore

摘要

A firmer steel market supportediron ore demand and sentiment Tuesday, withPlatts 62% Fe IODEX rising $1.30/dry mt on dayto $42.75/dmt CFR North China."The market has seen some slightstrength, thanks to a boost in steel prices,"a trader at a Hong Kong-headquarteredfirm said. "Look at billet prices — they haveimproved so much since compared to earlierin the quarter." Spot prices of square billet inTangshan, a barometer of steel demand in thesteelmaking hub of China, gained Yuan 30/mtfrom Monday to Yuan 1,520/mt ($234.34/mt)ex-stock Tangshan.