Imported iron ore market remained stable from last Friday. Iron ore and rebar futures market opened downwards in the morning, while market players tended to hold prices firm with a wait-and-see attitude. Partial products saw a slight decline of RMB3-5/tonne. Steel mills sustained normal procurement, but have increasing demand for iron ore lumps.
Traders were eager to sell mainstream iron ore fines but tended to hold up prices of Brazilian iron ore resources and iron ore lumps. Market players were in wait-and-see mood on Monday. PB fines traded at RMB450-453/tonne in Shandong ports and RMB453-455/tonne in Tangshan ports. Transaction prices were about RMB5/tonne lower than last Friday. Iron ore lumps and low alumina iron ore resources will see prices robust, while overall market will continue to hover at low level.
Sources:XINDE MARINE NEWS
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