China traders optimistic on iron ore sales until Jan
Dec 11, 2019 13:30
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Many Chinese iron ore traders were optimistic upon iron ore demand among the Chinese steelmakers for this and the coming months as many steel mills are remaining their relatively normal production as much as possible and there will be a round of pre-holiday iron ore replenishment among many mills from ports before the Chinese New Year (CNY) holiday over January 24-30 2020, market sources shared on Tuesday.
Chinese imported iron ore prices already showed signs of strengthening since the start of December, with Mysteel Mysteel’s seaborne iron ore index up $5/dmt from last Friday to a near two-month high of $93.8/dmt CFR Qingdao on December 9.
In parallel, Mysteel’s portside iron ore index also increased by a large