Chinese iron ore and steelmaking prices November 27 2017
Prices of spot market resources have grown significantly this week on account of increasing iron ore futures prices on DCE and rebar futures prices. Transaction price of PB fines climb up from RMB470/tonne or so at the beginning of the week to RMB500/tonne. Different productions have seen different growth, with smaller growth in middle and low grade fines. FB fines prices go up from RMB320/tonne at the start of the week in Tangshan to RMB335/tonne. Steel mills expressed although rebar and iron ore prices show large upturn in recent days, their profits don’t continue to grow. Some steel mills expressed that rebar and iron ore prices face great difficulties in further upturn under continuously weakening steel product demand in the coming market.