Traders’ morning offers climbed down by RMB10-20/tonne today and quotations of partial traders hold stable. Specifically, mainstream fines witness obvious decline in Tangshan and Shandong. A strong wait-and-see attitude could be witnessed among steel mills supported by purchases of steel mills last week.
Market transaction: Iron ore spot market stands slack and transaction prices drop markedly compared with that of last Friday. Specifically, PB fines transaction prices stand at RMB475/tonne. Spot market transactions focus on mainstream middle grade fines. Transactions of low grade fines and lumps remain unfavorable.
Market supply and demand: Morning offers of traders see obvious decline and small traders start to take wait-and-see attitude under cost pressures. Most traders are willing to deliver cargos. Purchasing desire of steel mills keep weak influenced by growing iron ore stocks and continuously falling futures prices. There are seldom transactions.
Sources:XINDE MARINE NEWS
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