Imported iron ore market remained stable in tandem with narrow fluctuation of iron ore futures market. Iron ore and rebar futures market opened downwards in the morning, while market players tended to hold prices firm with a wait-and-see attitude.
According to steel mills, iron ore lumps and low alumina resources saw prices stay high but it is acceptable due to good profits of steel products. Influenced by environmental protection inspection, steel mills use more iron ore lumps in production and reduce sintering ore in a bid to reduce pollution. Traders were active in trading and delivery; owing to steel mills’ buying interest, overall transactions picked up. PB fines were heard trade at RMB455/tonne in Shandong, that in Tangshan was RMB5-8/tonne higher.
Seaborne iron ore market was relatively active, with trading prices hovering at low level. Rio traded two cargoes of PB fines at around US$62.4/dmt, and a cargo of Newman lumps saw transaction stabilize from previous.
Sources:XINDE MARINE NEWS
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