China’s imported iron ore market was relatively active with prices trending upwards. Australian fines in northern China markets rose by RMB5/tonne or so, and Brazilian high grade iron ore resources and iron ore lumps saw a larger growth. Influenced by the restriction of sintering in Tangshan, iron ore lumps prices were RMB20-30/tonne higher than those in Shandong region, shored up by steel mills’ increasing demand for iron ore lumps and pellets. Shandong market was faced with stable supply and demand. Carajas fines were traded at RMB635/tonne, edging up slightly and PB fines remained stable, with trading prices ranging RMB445-447/tonne. Low grade Australian iron ore fines stayed firm, with SSF quoted at RMB280/tonne or so. A steel mill indicated that iron ore prices will remain in narrow adjustment in the near term and are hard to see turning point. Industry insiders also opined that demand from downstream market will help support steel mills’ profits.
Sources:XINDE MARINE NEWS
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