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Chinese iron ore and steelmaking prices August 01 2018

China’s imported iron ore market gradually entered a stalemate after last week’s marked price hike. Traders tend to quote and boost sales, while steel mills showed no eagerness to stock up. The price gap between PB fines and alternatives such as MAC fines, Jimblebar fines narrows as due to high stocks of PB fines at ports. Iron ore trade in Tangshan remained slim due to sintering and shaft restriction. It is learnt that some mills just procure some sintering ore to maintain the operation of blast furnaces. PB fines were traded at RMB485/tonne in Tagnshan and PB lumps at RMB638/tonne or so. PB fines were traded at RMB475/tonne or so in Shandong, MAC fines at RMB467/tonne. Low grade iron ore fines changed little from a day ago. Total transactions at port stocks improved slightly.

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