The imported iron ore market shocked to the weak trend today, leading to the stable quotations in the morning. While partial specific specifications increased by RMB2-5/wmt today. Specifically, prices of PB fines in Shandong quoted at RMB500/wmt, while that of Newman fines was RMB680/wmt and RMB480/wmt of MAC fines. Some traders still held increase expectation to the upcoming market and they expressed that the transactions remained weak due to the weekend. As for the steel mills, they were active in inquiry with wait-and-see attitude toward the market, as they believed that the prices were at a relative high level currently with on-demand procurement.
As for the transactions, in Shandong, PB fines, Jimblebar fines and Newman fines were traded at RMB495/wmt, RMB453/wmt and RMB520/wmt respectively. While in Tangshan, PB fines were traded at RMB510/wmt and that of SSF were RMB315/wmt. As predicted, the imported iron ore prices are to keep the range bound market.
Sources:XINDE MARINE NEWS
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