China’s iron ore futures market fluctuated in a wide range today. Traders’ quotations increased by RMB5-8/tonne compared with that of yesterday. As the futures market slumped, iron ore spot prices decreased accordingly. In Shandong, Carajas fines, South African fines, Ukrainian fines, Robe River fines and Ukrainian pellet quoted at RMB750/tonne, RMB625/tonne, RMB755/tonne, RMB360/tonne and RMB1240/tonne respectively. In Tangshan, PB fines, PB lumps, Jimblebar fines and MAC fines were priced at RMB535/tonne, RMB715/tonne, RMB465/tonne and RMB495/tonne.
Steel mills said that they kept cautious for the inquiry due to the large shock in futures market. While traders had strong willingness to shipment and they believed that there is still room for price hikes of lump and pellet in the upcoming market. In a short term, as some replenishment will be saw before the National Day holiday, iron ore prices is estimated to go up. Besides, with the publication of production control policies in Tangshan and Fenhe-Weihe Plaint, medium- and high-grade ore prices are to saw adjustment then.
Sources:XINDE MARINE NEWS
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