The imported iron ore market fluctuated generally today and the spot price at ports remained unchanged from yesterday. In Shandong, PB fines, MAC fines, Jimblebar fines, Ukrainian concentrate and Robe River fines quoted at RMB538/tonne, RMB520/tonne, RMB480/tonne, RMB860/tonne AND 385/tonne respectively. In Tangshan, PB lump and Newman fines priced at RMB745/tonne and RMB585/tonne separately. As the weekend comes, the market was tepid with few transactions today. Traders had willingness to shipment, while the price remained firm. As for steel mills, they remained wait-and-see sentiment and kept inquiring generally. However, mills were not willing to accept traders’ quotations. Besides, partial steel mills gathered to restock in this week and currently, they are mainly use the inventories.
In Shandong, PB fines, Robe River fines and Jimblebar fines traded at RMB533/tonne, RMB370/tonne and RMB470/tonne separately; as for Tangshan, PB fines, SSF and SSF in Yangtze River region traded at RMB545/tonne, RMB332/tonne and RMB345/tonne respectively. With the publish of production control policies for the heating season, iron ore prices will be faced with more pressures accordingly. But under the situation of dropping port stocks and the declining transaction volume of mines, as predicted, iron ore lump and pellet prices will be firm up in the upcoming market.
Sources:XINDE MARINE NEWS
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