China’s imported iron ore market sees smooth transaction, with Australian iron ore fines traded stable and lumps prices edging higher. Shandong market remains relatively active along with many inquiries calls from mills, leading to improved transaction. Brazilian iron ore sees prices up by RMB3-5/tonne. It is learnt that a Shandong mill is replenishing iron ore concentrate for pelletizing use. Tangshan market is stable, with PB fines traded at RMB462-463/tonne or so. Due to the environmental protection measures in Tangshan, sieving at ports is hindered, as a result, Newman lumps Fe63.5% is traded at RMB660/tonne. Demand for iron ore lumps in Tangshan will remain strong, thus there’s upside room for lumps prices.
Seaborne iron ore market is little changed today. Two cargoes of Newman lumps traded at premium of USD0.22/dmtu and USD0.235/dmtu respectively, which are in line with strengthening lumps market.
Sources:XINDE MARINE NEWS
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