Morning quotations of traders held steady today. Product prices climb up slightly after the noon under growing futures prices. Some large traders have obvious desire to deliver cargos and steel mill are willing to make purchases. Overall market becomes brisker than yesterday.
Iron ore spot market sees fair performance today and transaction prices edge up by RMB5-10/tonne. Stocks of steel mills decreased under continuously falling transaction prices in previously days, while the prices grow today given rebounding futures market. Middle and high grade fines transactions still dominate the market. Low grade resources prices increase amid steadiness and lumps prices also jump markedly.
Market Supply and Demand: Offers of traders stand brisk in Tangshan and Shandong. Traders focus in mainstream middle and high grade resources. Overall market sentiment improves under increasing prices today. Market prices are estimated to climb up in the coming days.
Sources: XINDE MARINE NEWS
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