Seaborne iron ore bids higher ahead of the Lunar New Year break

Bids for seaborne iron ore rose despite little trading on Wednesday February 14, the last working day before the Chinese Lunar New Year holiday.

Key drivers China’s ferrous futures prices largely continued to advance, with the benchmark iron ore contract still outshining other products, ending 2.6% higher than the preceding day’s settlement. Bids for seaborne cargoes of 62% Fe Australian fines rose above $78 per tonne cfr China on the back of the bullish sentiment reflected by the gains in futures prices. However, no transactions were reported at the time of writing, with few market participants still working. Quote...


July Zhang

February 14, 2018

09:59 GMT