China: Arrivals up 30% MoM, iron ore futures move sideways and consolidate at highs

Iron ore futures shot up then pulled back today, with the most-traded DCE contract I2701 closing at 687.5 yuan/mt, up 0.07% from the previous trading day. Spot prices for mainstream products at Qingdao Port fell by an average of about 3 yuan/mt. Trader activity was moderate, steel mill inquiries were limited, and overall spot transactions ...