Despite narrow fluctuation of iron ore futures market, imported iron ore market remained steady and some traders raised quotations of low alumina resources and iron ore lumps by RMB3-5/tonne. Traders showed strong desire to quote and boost sales. A trader expressed that PB fines were not in smooth sales due to high stocks at ports and ample seaborne cargoes. It was hard to hold prices due to alternatives. Steel mills preferred to stock up iron ore lumps and low alumina resources. Overall transactions were good today. PB fines were traded at RMB450/tonne in Tangshan and Shandong. With increasing premium of iron ore lumps, spot prices of iron ore lumps were quite robust.
Sources:XINDE MARINE NEWS
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