It’s reported that earlier in late January China’s steel suppliers raised their export prices by about US$20/ton averagely on HRC, CRC, and CGI in view of iron ore price rise this year.
The new iron ore price is estimated to go up by 35~40 percent.
However, foreign buyers would like to wait and see rather than confirm orders hastily at this time due to lack of real demand.
(Source: Yieh.com)