China's spot iron ore prices at ports stay stable amid buoyancy in futures market. Traders reduce the negotiation room. Steel mills’ procurement shrank due to ample inventories. Spot trading remained acceptable today and mainstream high and medium grade resources sold well.
Tangshan ports and Shandong ports saw active trades while trade remained slim at Huanghua port due to shortage of resources. Brazilian fines and carajas fines showed more transactions, while BRBF was in slim trade. Large traders’ sales have to some extent hindered small-sized traders’ trade, besides, partial steel mills started to sell partial seaborne cargoes, both weighing on market supply.
Sources:XINDE MARINE NEWS
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