China’s imported iron ore market fluctuated in a narrow range today. Traders’ quotations increased by RMB5-10/tonne in the morning from that of yesterday. While in the afternoon, the quotations dropped slightly. In Shandong, Assmang fines, PB lump, Yandi fines, Ukrainian concentrate and Robe River fines quoted at RMB645/tonne, RMB765/tonne, RMB510/tonne, RMB760/tonne and RMB400/tonne respectively. In Tangshan, PB fines, PB lump and SSF priced at RMB565/tonne, RMB755/tonne and RMB350/tonne. Generally, prices of medium- and high-grade ores were lifted slightly, while the low-grade resources remained stable. Traders said that although the quotations remained high, steel mills didn’t accept them due to the unfavorable procurement sentiment. In the afternoon, steel mills hold wait-and-see sentiment toward the market as quotations declined.
As a result, the transactions remained normal today. Steel mills expressed that as the decreases were witnessed in both steel and iron ore markets, they kept bearish sentiment for the upcoming market and remained cautious about procurement. In Shandong, PB lump and PB fines traded at RMB755/tonne and RMB555/tonne; while in Tangshan, PB fines, PB lump and SSF traded at RMB560/tonne, RMB740/tonne and RMB345/tonne separately. In a long term, the imported iron ore market is expected to shock at the high level until the implication of production control policies in heating seasons.
Sources:XINDE MARINE NEWS
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