China’s iron ore futures market went to the uptrend amid fluctuation today. Traders quotations increased by RMB5-10/tonne from yesterday. In Shandong, PB fines, Carajas fines and Yandi fines quoted at RMB530-535/tonne, RMB745/tonne and RMB480/tonne; while in Tangshan, PB fines and PB lumps priced at RMB545-550/tonne and RMB735/tonne. Traders reported favorable transactions today and the demand for replenishment has appeared. Steel mills expressed that traders were willing to shipment with firm prices today. As a result, traders tended to firm up the prices and the bargaining room has reduced obviously.
As for transactions, in Shandong, PB fines, Jimblebar fines, Yandi fines and PB lumps traded at RMB525/tonne, RMB460/tonne, RMB470/tonne and RMB730/tonne. In Tangshan , PB fines, Jimblebar fines and FB fines traded at RMB543/tonne, RMB466/tonne and RMB390/tonne with the increase of RMB5-10/tonne. Some steel mills are optimistic with the iron ore market in a short term, as the domestic steel mills will start replenishment to cope with the bad weather in heating seasons.
Sources:XINDE MARINE NEWS
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