China’s imported iron ore market trends weak in the morning amid a decline of RMB5/tonne in partial products. Brazilian iron ore resources in northern ports see limited decline due to tight supply and steel mills’ strong preference, in particular low alumina resources. Steel mills show relatively strong buying interest for medium and high grade resources.
Transaction remains flat today along with stable prices. Influenced by environmental inspection in some regions, demand for iron ore lumps picks up. Australian fines still take a larger proportion in spot trade, followed by SSF and FB fines. There’s also transaction for non-mainstream iron ore fines, such as one steel fines. PB fines are traded at RMB440/tonne in Shandong and Jimblebar fines at RMB420/tonne, MAC fines traded at RMB430/tonne in Tangshan.
Steel mills mainly sustain normal procurement. Some mills are active in inquiring due to good profits. Traders are not eager to sell owing to optimistic attitude towards the coming market.
Sources:XINDE MARINE NEWS
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