Iron ore spot market shows flat performance today and morning offers of traders hold steady compared with that of yesterday. Traders generally hold wait-and-see attitude under flat spot resources shipments in recent days. Iron ore stocks of steel mills maintain a high level and mainly make purchases as planned. Their purchases focus on mainstream iron ore cargos.
Spot market transactions focus on mainstream middle and high grade fines. IOCJ and Newman lumps transactions witness obvious growth compared with that of last week. More transaction volume is witnessed at Tangshan. Transactions are influenced by transportation and growing freight rate at port Shandong. Steel mills in Shanxi and Wu’an make purchases from port Huanghua.
Large traders hold flat attitude towards cargo shipments supported by demand of steel mills few cargo arrivals at major ports. Steel mills deliver cargos at a normal level due to stable demand and small traders deliver cargos at a quick pace to earn profits. Steel mills still witness fair demand and purchases are mainly witnessed among small steel mills. Middle and large steel mills have small purchases.
Sources:XINDE MARINE NEWS
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