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Iron ore rise supported by improved trade, expected restrictions ease

Iron ore price continued to improve gradually on Thursday amid larger trading volumes and optimistic short-term demand forecasts, though port inventories slightly increased.

Australian iron ore fines 62% Fe climbed by $2.5/t to $216.5/t CFR, while both its futures on the DCE and steel tags remained mostly stable on daily basis.

The rise was supported by stronger buying activity in the seaborne market, with trading volumes adding 80,000 since Wednesday.

The raw material demand prospects for the near future are positive as well. “Iron ore demand is expected to increase next week, as operation restrictions imposed on steelmakers and constructions sites during the celebration in Beijing will be lifted,” a market source.

At the same time, iron ore port inventories have grown by 0.5 million t to 124.45 million t this week.

 

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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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17 Country

300.000 Employees

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