Morning offers of traders basically held stable today. Partial mainstream fines prices climb up under favorable market news. Market demand of steel mills is hard to surge and steel mills focus on iron ore stock consumption in the short term.
Market transaction: Iron ore spot market sees better performance compared with that of yesterday. Market enquiries and quotations stand brisk. Market enquiries focus on mainstream middle and high grade fines. Market demand for lumps and non-mainstream resources keeps unfavorable. Specifically, transaction prices of PB fines stay at RMB473/tonne and RMB465/tonne respectively in Tangshan and Shandong.
Market supply and demand: Spot market traders are active to give their offers today and some large-sized traders show obvious desire to deliver cargos. A few small traders still choose to stop sales under cost pressures. Steel mills pay high attention to mainstream resources. Iron ore spot market prices basically hold stable in recent days. Infrastructure projects demand is predicted to increase in the following market and thus finished steel demand will grow accordingly. Market participants are bullish towards the following market in the short term and thus the purchasing sentiment improves.
Sources:XINDE MARINE NEWS
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