Few takers for seaborne iron ore despite Chinese port activity

The seaborne iron ore market continued to see thin trading on Friday April 21 despite a pick-up in prices and activity at Chinese ports spurred on by futures and steel gains.

Key drivers Quite a number of offers were made for seaborne iron ore on trading platforms during the day, but not a single bid emerged. It takes time for confidence to consolidate, especially when it comes to transactions involving entire vessels, market participants said. This is despite gains seen in the futures market since Wednesday. A source at a mill in north China that usually takes in seaborne cargoes told Metal Bulletin that it may buy something next week. It did not make any purchases this week. Prices have risen significantly at Chinese ports, and buying activity was described...


July Zhang

April 21, 2017

12:38 GMT