Chinese iron ore and steelmaking prices January 12 2018
Spot market morning offers basically held stable today. Some traders show strong desire to lift mainstream middle and high grade iron ore prices and steel mills are not active to purchase. They mainly hold a strong wait-and-see attitude towards fines purchases and have obvious demand for lumps. Transaction prices for Newman fines and PB fines at ports Tangshan and Shandong stand at RMB600/tonne and RMB553/tonne respectively.
Iron ore spot market performance remains fair, while real transactions fall obviously compared with that of yesterday. Partial mainstream fines prices fall back slightly and traders & steel mills are playing waiting games. It’s learnt that spot market transactions focus on iron ore fines, while lumps still witness unfavorable transactions. Steel mills have desire for restocking. However, demand will not increase significantly influenced by many purchases in recent days and growing stocks.