Morning offers of traders climbed up by RMB5-10/tonne today supported by rising transaction volume and price and better demand of steel mills yesterday. Large traders see strong desire to deliver cargos and they are not eager to lift spot market prices. Steel mills focus on cargo enquiries. Partial steel mills have purchasing plan in Shanxi and their purchases focus on mainstream iron ore resources.
Market Transactions: Iron ore spot market stands brisk and steel mills pay large attention to mainstream fines. Mainstream fines are still favored by steel mills. Non-mainstream and lumps transactions keep unfavorable. Brisk transactions are mainly witnessed at northern ports.
Market Supply and Demand: Large traders are active to deliver cargos, while small-sized traders show wait-and-see attitude. Transaction prices have not seen obvious upturn. Large-sized traders deliver their cargos at a fast pace given large stock pressures. Steel mills see normal demand and make purchases at a small amount every time frequently to maximize the profits.
Sources:XINDE MARINE NEWS
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