China’s iron ore futures market went weak today. Traders’ quotations remained unchanged in the morning and the bargaining room was widening affected by the futures market. In Shandong, PB fines, Carajas fines, Newman fines and Jimblebar fines quoted at RMB510/tonne, RMB740/tonne, RMB530/tonne and RMB460/tonne respectively. In Tangshan, MAC fines with low aluminum and PB lump priced at RMB515/tonne and RMB700/tonne.
Traders reported a slump of trading volume today and a large number of steel mills have completed the replenishment. Only a small part of steel mills kept inquiring and on-demand procurement. However, still mills expressed that partial traders hold optimistic sentiment toward the upcoming market and tried to firm up prices. Little transactions made today. In Shandong, PB fines, SSF, Yandi fines and MAC fines traded at RMB513/tonne, RMB462/tonne and RMB495/tonne. While in Tangshan, Jimblebar fines, FB fines and SSF traded at RMB458/tonne, RMB384/tonne and RMB315/tonne separately.
Sources:XINDE MARINE NEWS
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