Spot price of iron ore at Tianjin Port from India up by 20%
It is showed from statistics that the price of iron ore with 63.5 percent Fe at Tianjin port from India is quoted at RMB630/ton, up by 20 percent compared with early November.
It is believed that the surging price caused by current steel market recovering and production resuming of private steel mills, which would put China in bad situation of iron ore talk. According to statistics from Qingdao port and Rizhao port, iron ore stock has been moved out at an increasing quick pace. And iron ore stock at coastal areas has been declining for six straight weeks.
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