FMG 3.48% $7.74 fortescue metals group ltd

Fmg products are in hot demand at the moment according to the...

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    Fmg products are in hot demand at the moment according to the article. Seems to be more arrivals too compared to last year. Port Headland authority also announced the other day that Dec exports were 14% higher than Nov as well.

    Argus reported trades for 39 spot seaborne iron ore cargoes in the first 10 days of 2019, compared with 17 in the same period last year. A total of 58 cargoes were traded in January 2018.

    There were 55 cargoes traded in December 2018 compared with 49 a year earlier.

    Demand for iron ore has picked up this month as mills buy more, said a trader with a major international trading firm. Demand is focused on medium and low-grade fines, the trader said.....

    ......"We are now more focused on portside cargoes, and have interest in buying lump, SSF fines and Fortescue blended fines at the ports now," said the manager of a Tangshan-based mill. More restocking at ports may also lift seaborne prices by boosting overall iron ore market sentiment.

    "I bet there will be more restocking before the lunar new year holiday starts. Downside risk for prices is quite marginal in the near term," said an east China-based trader.
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