Iron ore futures market at Dalian Commodity Exchange continued to run with narrow fluctuation and there’s little impact from US tariff. Traders held quotations firm and tended to raise prices for Brazilian resources. Partial mills expressed the low alumina resources have remained high, while they would continue to stock up for good profits at present. PB fines prices were not that robust. Transactions were not active ahead of weekend, as the mills have almost finished procurement on Wednesday and Thursday. Steel mills with ample inventories might do slight quantity of procurement. PB fines were traded at RMB450/tonne in Shandong ports and RMB455/tonne in Tangshan.
In the light of bearish outlook and approaches of weekend, seaborne iron ore market was not active. Some traders stopped quoting to wait and see. A cargo of PB lumps concluded index-linked as current lumps premium remained high with risks to fall. Rio Tinto sold a cargo of PB fines with trading prices rising slightly. BRBF prices also rebounded to US$71.22/dmt today.
Sources:XINDE MARINE NEWS
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