China's imported spot iron ore market remained quiet during a
shortened trading week due to the three-day national holiday.
Prices of 63.5% Fe Indian fines stood at $149-151 per tonne cfr
China, unchanged from a week ago.
"Offers of spot iron ore to China are few in number because
western countries are starting their Easter holiday, but there
are many enquiries for iron ore at Chinese ports," a trader in
Pilbara fines are being offered today at 1,030 yuan ($162) per
tonne at a north China port and Pilbara lumps at 1,130 yuan per
India's Fomento Resources Group has offered three tenders
today, including 57% Fe fines and 59% Fe lumps.
"China's economy may have expanded by 8.4% in the first
quarter, according to reports citing the National Development
and Reform Commission. Though it is the least since the first
half of 2009, it remains strong and would support demand,"
another trader in Beijing said.
"It seems that China's economy is still expanding fast and
demand for steel is recovering," a trader in Shanghai said,
adding that spot iron ore prices could continue to rise next
A tender of Rio Tinto's South African PMC fines at 63.4% Fe
concluded at $148 per tonne cfr on Thursday, slightly below