Chinese iron ore and steelmaking prices November 30 2017
Morning offers of traders mainly held stable today and the prices of partial resources went down by RMB5/tonne. Specifically, mainstream middle grade fines offers move stable and traders show obvious desire to hold prices firm influenced by tight resources in some ports. Steel mills witness obvious wait-and-see attitude restricted by production reductions.
Iron ore spot market witnesses flat performance and transaction prices climb up by a small margin in some major ports. Market transactions saw large amount before the noon as traders kept their quotations stable. Most traders show intention to raise the prices under continuously growing futures prices after the noon. Therefore, the real transactions climb down. Spot market transactions still focus on middle and high grade fines and lumps prices are depressed again. Partial traders expressed that steel mills have certain amount of stocks and their demand for high grade spot resources will not decrease.