Morning offers of traders held steady today and market offers kept flat. Most steel mills held wait-and-see attitude towards the following market. Market transactions remain flat after the festival and many steel mills replenish their stocks based on real demand.
Market Transactions: Spot market sees flat performance and transactions seem sluggish. Market demand focuses on mainstream high and middle grade fines. Transaction volumes of lumps and pellet decrease. Spot market transaction prices climb down under weakening demand of steel mills. Transaction prices of PB fines stand at RMB450/tonne and RMB440/tonne respectively in Tangshan and Shandong.
Market Supply and Demand: Steel mills witness weak purchasing desire and most replenish stocks based on demand. Some traders are willing to replenish their stocks and are bullish towards the following demand of steel mills. They thought that market prices will increase in the coming days.
Sources:XINDE MARINE NEWS
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