Morning offers stood stable today and most traders are active to give quotations. Partial traders are willing to lift mainstream resources prices and steel mills replenish their stocks based on their real demand, with small possibility of large purchases.
Market Transactions: Iron ore spot market shows fair performance today and partial mainstream production prices stand firm. Market transactions focus on middle and high grade fines. Low grade prices start to hold firm, with flat transactions. Mainstream lumps and pellets witness unfavorable performance. Market participants show weak purchasing desire. Transaction prices of PB fines and SSF stand at RMB452/tonne and RMB275/tonne respectively in Tangshan. Meantime, PB fines transaction prices are pegged at RMB440/tonne in Shandong.
Market Supply and Demand: Steel mills have had normal purchases recently and mainly ensure normal production. It’s learnt that iron ore stocks of steel mills have reached the expected low level influenced by sluggish production resumption and load limit. Market demand is hard to see substantial improvement in the short term.
Sources:XINDE MARINE NEWS
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