China’s iron ore futures market fluctuated at a high level today. Traders’ quotations remained unchanged compared with that of yesterday. Only partial prices of specific specifications increased slightly. In Shandong, PB fines, Ukrainian concentrate, Robe River fines, Assmang lump and Carajas fines quoted at RMB540/tonne, RMB755/tonne, RMB385/tonne, RMB870/tonne and RMB745/tonne respectively. In Tangshan, PB fines, Carajas fines, Roy Hill fines and Yandi fines priced at RMB545/tonne, RMB765/tonne, RMB535/tonne and RMB510/tonne separately.
Traders firmed up the prices with strong will to shipment as they held positive sentiment toward the upcoming market. Steel mills tend to inquire on restocking demand. Besides, some steel mills remained wait-and-see sentiment as the market was weaker than that of yesterday. Affected by the policy of reducing deposit reserve ratio, rising oil prices and the restocking demand after the week-long holiday, iron ore price is predicted to firm up in a short term.
Sources:XINDE MARINE NEWS
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