China’s futures market remained stable amid fluctuation. As a result, traders’ quotations held steady accordingly. Thanks to the clean weather recently, imported iron ore prices in Tangshan remained firm as the sintering concentrate prices performed well. In Shandong, the environmental protection policies have small impact on the local iron ore market. Traders said that most mills remained wait-and-see sentiment toward the coming market. While steel mills expressed that they will increase procurement for the upcoming National Day holiday in order to ensure the normal production. A small number of steel mills said that they will remain on-demand procurement as it is difficult to judge the iron ore prices and the procurement will not be affected by the holiday.
In Shandong, PB fines, Jimblebar fines and Newman fines were traded at RMB500/tonne, RMB450/tonen and RMB508/tonne respectively. In Tangshan, Jimblebar fines and SSF were traded at RMB457/tonne and RMB310/tonne. Compared with that of last Friday, trading prices of iron ore remained stable generally with declined trading volumes.
Sources:XINDE MARINE NEWS
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