China’s imported iron ore market shows signs of weakness. Traders tend to boost sales by lower quotations by RMB5/tonne or so and steel mills have an increasing buying interest and are active in enquiry. High grade iron ore resources are quoted robust. Mainstream iron ore resources with medium and high grade Fe sold well as steel mills replenish some stocks in light of price slide; iron ore pellets stocks remain low at ports coupled with environmental-related production restriction, which send iron ore pellet prices higher. Total transactions pick up slightly from Monday. Most steel mills tend to hold iron ore stocks within rational level and partial small-size mills keeps stocks low owing to market fluctuation and production cutbacks.
Sources:XINDE MARINE NEWS
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