China’s iron ore futures market fluctuated in a narrow range today and traders’ quotations remained unchanged from yesterday. In Shandong, Carrara concentrate, Robe River fines, Ukrainian fines and Carajas fines priced at RMB735/tonne, RMB360/tonne, RMB760/tonne and RMB750/tonne respectively. In Tangshan, PB fines, Jimblebar fines, Carajas fines and PB lumps quoted at RMB535/tonne, RMB470/tonne, RMB750/tonne and RMB715/tonne separately. While in the region of Yangtze River region, BRBF, Yandi fines and Roy Hill fines priced at RMB615/tonne, RMB470/tonne and RMB510/tonne.
Traders said that the medium and high grade resources are in tight supply recently and the prices are predicted to go up further. Although the transaction volume is relatively small today, steel mills started replenishment as of today and they expressed that they will increase the procurement with the approaching of National Day holiday. As the production control weakens recently, the local iron ore demand has increased in Tangshan, leading to the higher prices than that of Shandong’s ports. However, the prices is estimated to fall back slightly with the firm-up lump prices.
Sources:XINDE MARINE NEWS
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