China’s futures iron ore market saw an upward trend amid fluctuation today. Miners’ offers remained generally stable in the morning, with partial price growths of RMB3-5/tonne. Traders with high willingness to ship cargoes made offers actively. In Shandong, PB fines, Newman lump, Carajas fines and Ukrainian concentrate quoted at RMB505/tonne, RMB720/tonne, RMB745/tonne and RMB750/tonne respectively. While in Tangshan, PB lump and PB fines offered at RMB708/tonne and RMB520/tonne.
Steel mills witnessed favorable inquiries today with active procurement. Partial steel mills were in on-demand procurement as the iron ore price fluctuated in a narrow range. The overall transactions were favorable today. As for the transaction prices, PB fines, Yandi fines, FB fines, BRBF, were traded at RMB495/tonne, RMB430/tonne, RMB378/tonne and RMB530/tonne respectively in Shandong; while in Tangshan, Screened Newman lump, PB fines, PB lump and MAC fines were traded at RMB730/tonne, RMB518/tonne, RMB695/tonne and RMB490/tonne with some increases in trading volume and prices compared with that of previous day.
Sources:XINDE MARINE NEWS
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