Imported iron ore market remains robust amid partial price hike in the light of upward fluctuation in futures market. Partial traders hiked offers by RMB5-10/tonne. Currently, spot transaction was concentrated on mainstream iron ore resources. Iron ore lumps stayed robust due to environmental protection policy; Brazilian and S. African fines gained strong favored by steel mills due to low alumina.
Transaction albeit stayed not strong, while some products saw prices up RMB3-5/tonne. Steel mills sustained normal procurement. Iron ore lumps saw increasing orders and there’s still upside room. Futures market was in narrow fluctuation thus buyers and sellers were holing wait-and-see attitude. PB fines stocks stayed relatively high, leaving some sales pressure on traders.
Sources:XINDE MARINE NEWS
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