Iron ore spot price continues to climb on robust demand
The spot price for Fe 62% iron ore fines increased again by $6.75/t to $223.75/t, CFR China, on strong demand for the steelmaking raw material. Regional production curbs and healthy steel demand in China continue to stoke buying interest in the seaborne market. SteelMint believes limited stocks at ports and positive portside reselling margins are giving traders confidence to buy mainstream cargoes.