Spread between seaborne iron ore heading to China and port iron ore increased to 12$ per MT. Iron ore at ports is 12$ more expensive. Traders do not accept to buy seaborne cargoes heading to China because the iron ore outlook is not positive. This issue keeps the pressure on iron ore price and in short term (next week) cause the iron ore price to fall more!
- Steel’s Bearish Trend:
- It is unlikely that Zarif takes any action without the permission