China’s iron ore futures market saw slight decreases today. As for the spot market, traders’ offers remained unchanged generally in the morning. In Shandong, PB fines, Newman lump and Jimblebar fines were priced at RMB500-505/tonne, RMB720/tonne and RMB455/tonne. While in Tangha, PB fines and PB lump were offered at RMB520/tonne and RMB710/tonne respectively. As a whole, fines prices were declined compared with those of the previous week, while quotations of lump and pellet remained firm currently. Most of steel mills stay wait-and-see attitude and keep on-demand procurement at present as they believe that iron ore prices are estimated to go downward affected by the declining demand due to the production cut.
Generally, transactions remained normal as of today. In Shandong, 61.5%-Fe PB fines, Western fines and BRBF traded at RMB495/tonne, RMB303/tonen and RMB538/tonne. In Tangshan, PB fines, SSF and FB fines traded at RMB 518/tonne, RMB310/tonne and RMB378/tonne respectively. Entering the cold season, stocks in North China is expected to go up and it may shore up iron ore prices in a long run.
Sources:XINDE MARINE NEWS
Please Contact Us at：
admin@xindemarine.com
.gif)
