China's spot iron ore prices stays stable with PB fines offered at RMB485-490/tonne in Tangshan ports and at RMB480/tonne in Shandong ports. Traders express steel mills have no high buying interests at current prices due to regular procurement. High grade resources such as iron ore lumps see firm trading prices. The downtrend in futures market affects traders’ trading; albeit steel mills have certain demand, they request for a larger decline in purchase price as compared with futures price. PB fines are traded at RMB470-480/tonne in Tangshan and RMB472-475/tonne in Shandong. There’s a RMB2-3/tonne decrease in transaction price of low grade iron ore fines, such as FB fines and SSF.
Sources:XINDE MARINE NEWS
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