Morning offers of traders edged up by RMB5-10/tonne today due to the support of futures market and large purchases of steel mills in recent days. Traders are active to submit offers, while they start to lift partial mainstream cargo prices. Steel mills show flat purchasing desire and mainly keep wait-and-see attitude.
Market Transactions: Iron ore spot market sees fair performance and focus on mainstream middle & high grade fines. Mainstream low grade, high grade lumps and pellet transactions also remain fair because partial steel mills raise the Fe content in blast furnaces. Spot market transactions kept fair before the noon, while transaction volume and prices climb down influenced by diving futures market in the afternoon. Jimblebar and PB fines transaction prices stay at RMB405/tonne and RMB453/tonne respectively at Tangshan and Shandong.
Market Supply and Demand: Many steel mills expressed that iron ore spot market stocks have basically stayed at a high level. Some steel mills have purchasing expectation and show large demand for mainstream middle and high grade resources. Traders said that spot market is largely influenced by futures market. There is no purchase under diving futures prices. Some market participants said they will postpone cargo shipments.
Sources:XINDE MARINE NEWS
Please Contact Us at：
admin@xindemarine.com
.gif)
