China’s imported iron ore market fluctuated in a narrow range with stable quotations of traders today. According to some traders, partial steel mills will start replenishing before National Day holiday, which will shore up prices. As a result, they have weak willingness to shipment currently. In Shandong, PB fines and PB lumps quoted at RMB510/tonne and RMB725/tonne. While in Tangshan , PB fines, screened Brazilian lumps, Newman lumps and Newman fines were priced at RMB530/tonne, RMB675/tonne, RMB735/tonne, RMB535/tonne.
As the holiday approaches, steel mills don’t want to make any transactions and only a small number of steel mills remained on-demand procurement. Therefore, China’s iron ore market showed stagnant today. Steel mills expressed that traders were positive in shipment and they tended to firm the price up. Generally, there is a large drop of transactions today, but the trading prices remained unchanged as a whole.
Sources:XINDE MARINE NEWS
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