China's spot iron ore prices at ports stay stable. Traders show strong desire to boost sales, in particular at Shandong ports. Many steel mills are heard have plans to call for tenders, especially for mainstream iron ore fines.
Iron ore trading today picked up from yesterday, with transactions mainly for high grade iron ore fines originated from Australia. Brazilian iron ore saw normal delivery, with Carajas fines and BRBF relatively active. Shandong ports saw large shipments, followed by Tangshan ports, while mostly in small-volume.
Large-sized mills were not active in procurement due to seaborne cargoes. The medium and small-sized mills tended to purchase spot resources. Hindered by transportation of Shandong ports, spot stocks at Rizhao were on the rise, leaving some pessimistic attitude among traders.
Seaborne market was relatively active today but with lower transaction prices from a day earlier.
Sources:XINDE MARINE NEWS
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