China’s iron ore futures market dropped after hike amid fluctuation today. Traders’ quotations remained unchanged generally at port in the morning. In Shandong, Carajas fines, South African lump, Ukrainian concentrate and Robe River fines quoted at RMB740/tonne, RMB860/tonne, RMB755/tonne and RMB365/tonne respectively. While in Tangshan, PB fines, Jimblebar fines and SSF priced at RMB540/tonne, RMB470/tonne and RMB325/tonne. Traders were witnessed strong willingness in shipment with active quotations. Steel mills expressed to start replenishment ahead of the National Day holiday in order to meet the demand for production. As a result, iron ore prices were increased by around RMB5/tonne.
In Shandong, PB fines, SSF, PB lupm and Jimblebar fines traded at RMB510/tonne, RMB315/tonne, RMB713/tonne and RMB450/tonne separately. As for Tangshan, PB fines, PB lump and Jimblebar fines traded at RMB530/tonne, RMB705/tonne and RMB465/tonne. Generally, the trading volume has increased a lot with active market compared with that of yesterday.
Sources:XINDE MARINE NEWS
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