China’s imported iron ore spot prices fluctuated at a small range with prices of partial specifications increased by RMB3-5/tonne. Expected for the rising market, some traders have sentiment of firming the lump price up. Traders said that the spot market was tepid today as steel mills’ procurement sentiment remaining normal. Most transactions were medium and high grade resources and the trading prices stayed stable compared to yesterday.
In Shandong, lump prices increased slightly with PB lump straded at RMB695/tonne. For the sake of stable operation, steel mills are still on demand procurement in term of their own production characteristics. On account of the production curb and low stocks of lump and pellet currently, prices of lump and pellet are to remain strong in a short term. While the mainstream medium and high grade fines prices are predicted to keep fluctuating. On the contrary, prices of low grade resources will be seen slight changes.
Sources:XINDE MARINE NEWS
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