The seaborne iron ore market was depressed in April 2020 compared with the first quarter of the year, because of a slow recovery from a severe winter, but buying activity at Chinese ports remained resilient due to healthy short-term production by local mills, which kept the portside markets trading at a premium throughout the month.
The monthly average price for 62% Fe iron ore slipped to $84.42 per tonne cfr China in April, and that for 65% Fe to $100.66 per tonne, widening the spread to $16.24 per tonne.Fastmarkets' daily price assessment for steel reinforcing bar (rebar), domestic, ex-whs Eastern China, averaged 3,418-3,447 yuan ($480-484)...