The imported iron ore market shocked in a narrow range today. The spot price at port remained unchanged in the morning compared with that in last Friday. In Tangshan, PB fines, PB lump, SSF and Neman fines quoted at RMB555/tonne, RMB745/tonne, RMB335/tonne and RMB570/tonne. In Shandong, PB fines, PB lump, Jimblebar fines and Roy Hill lump priced at RMB540/tonne, RMB745/tonne, RMB480/tonne and RMB600/tonne. Traders said that steel mills have strong willingness to procure with active transactions. Steel mills expressed that it is obvious that trades didn’t want to sell iron ore today as they hold wait-and-see sentiment toward the coming market.
The transactions were favorable today affected by the restocking of steel mills as well as the tepid Dalian iron ore futures market, which lays the foundation for procurement of steel mills. In Shandong, PB fines, Jimblebar fines and SSF traded at RMB530/tonne, RMB475/tonne and RMB331/tonne. In Tangshan, Carajas fines, PB lum and FB fines traded at RMB752/tonne, RMB725/tonne and RMB393/tonne respectively.
Sources:XINDE MARINE NEWS
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