MARKETS SPECTATOR: Chinese iron craving

Grange Resources’ new managing director says China’s iron ore spot price has risen to reflect demand as steel mills replenish falling stocks.

It’s no surprise that the spot price for iron ore fixed in Tainjin, China, has risen 5.6 per cent in the last two days, says Grange Resources’ new managing director Wayne Bould.

He says this is because Chinese steel mills are restocking their iron ore inventory, which had fallen to 15 to 20 days’ supply from as high as 35 days.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles