The seaborne iron ore market maintained its stability on Thursday March 15 amid a slight drop in steel inventories in China, with premiums for index-linked cargoes of 62% Fe Australian fines failing to rise as much as expected.
Key drivers The slight drop in steel inventories gave the market some optimism about demand from downstream industries beginning its recovery. According to a local information provider, steel inventory levels are down by 40,000 tonnes this week. In Hebei province's Wu'an city, mills have been ordered to put their blast furnaces on suspension until the end of March to lower emissions.A few traders who were offering Capesize cargoes of Pilbara Blend fines with laycan set for mid- and late April...