Iron ore futures market remains unchanged today and the spot price at port stays stable compared with that of yesterday. PB fines quoted at RMB460-465/wmt at Tangshan region and that for Tianjin was RMB495-500/wmt. In Shandong, PB fines and SSF quoted at RMB460/wmt and RMB285/wmt respectively. Traders said that iron ore market is relatively actively today with increasing offers. The mainstream iron ore prices including PB fines, Newman fines and MAC fines saw slight changes. Meanwhile, partial traders remain wait-and-see attitude because of the low profits.
As for steel mills, they were active in procurement regarding the demand. While Tangshan showed another different story affected by the production control rumor. Partial steel mills held bearish sentiment to the upcoming market.
The trading volume has increased a lot compared with yesterday with the unchanged trading price. Tangshan SSF price increased by RMB2/wmt from yesterday and the trading price of BRBF and Yandi fines in Shandong remains at RMB515/wmt and RMB390/wmt. A large number of the transactions are mainstream ore specifications. Affected by the production control of sintering and shaft furnace, prices of lumps and pellet still firm up currently.
Sources:XINDE MARINE NEWS
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