China’s iron ore futures market fluctuated at a narrow range today. Traders quotations remained stable compared with that of the day before holiday. In Tangshan, screened Neman lump, Neman fines, MAC fines, Carajas fines and Ukrainian fines quoted at RMB765/tonne, RMB545/tonne, RMB520/tonne, RMB755/tonne and RMB760/tonne respectively. In Shandong, PB fines, PB lump and Jimblebar fines priced at RMB525/tonne, RMB725/tonne and RMB460/tonne. Traders said that at the first working day, most steel mills are tend to inquiry and wait for the upcoming market. While as the heavy consumption of steel mills’ stocks, they will replenish the inventory recently.
Steel mills expressed that trades were active in quotation today with a high shipment enthusiasm. However, the prices remained firm and they held increase bullish sentiment toward the later market. Transactions remained normal today. Specifically, SSF and PB fines traded at RMB312/tonne and RMB532/tonne in Tangshan. While in Shandong, Jimblebar fines, PB fines and Carajas fines traded at RMB450/tonne, RMB520/tonne and RMB733/tonne respectively.
Sources:XINDE MARINE NEWS
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