Prices for both iron ore fines and lumps picked up on Friday January 19 amid an uptick in the futures market.
Key drivers China's ferrous futures, having trended downward since Thursday night, surged across the board on Friday afternoon. The benchmark iron ore contract ending the day 1.6% higher than the previous day's settlement price. A futures trader in Beijing attributed the rebound to technical reasons and lingering expectations of a round of restocking for steel and iron ore before the Chinese New Year in mid-February. China will break for a week from February 15 for the holiday.Two seaborne shipments of mainstream 62% Fe Australian fines changed hands at prices that are at least $2 per tonne higher than those a...