China’s imported iron ore market remains steady on smooth sales. Traders continue to offer actively but with less willingness to undersell ahead of weekend. Steel mills tend to restock on demand. Steel market has shown a slowing price increase and some regions even see decline. Meanwhile, seaborne iron ore are traded lower recently, which to some extent affect steel mills’ procurement, resulting in bearish view on the coming market.
Low grade iron ore resources are sold well with increased volumes today. PB fines are traded at RMB480/tonne in Shandong and SSF at RMB307/tonne; while PB fines are sold at RMB506/tonne in Tagnshan and FB fines at RMB378/tonne. Iron ore market is expected to continue the fluctuation in the near term.
Sources:XINDE MARINE NEWS
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