Sluggish activity at Chinese iron ore spot transaction platform

From November 26 to November 30, China’s iron ore spot transaction platform run by the China Beijing International Mining Exchange (CMBX) recorded 11 offers of a total of 650,000 mt of iron, with the conclusion of one deal. No deal had been concluded in the previous five weeks. In the week before (Nov. 19-23), there were 48 offers of iron ore, according to the CBMX data.

 

According to CBMX, the iron ore market has remained sluggish as most steelmakers have completed their iron ore purchases for this year, while the continuous price decreases in the steel market have placed strong pressure on the iron ore market.