China’s imported iron ore market remains steady. Traders focus on sales and are active in offering, buying interests of steel mills pick up. Iron ore pellets prices edge up slightly. Steel mills stock up tailoring demand, while some mills reflect that current prices of imported iron ore pellet are relatively high and they may purchase domestic pellets instead from surrounding mines. With the stricter implementation of environmental protection policies, iron ore prices are not likely to climb largely. Transactions improves from yesterday, with PB fines traded at RMB483/tonne in Shandong and RMB510/tonne in Tangshan. Steel market is likely to be shored up owing to production control, but it is not likely to drive up iron ore market to the same extent.
Sources:XINDE MARINE NEWS
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