Chinese iron ore and steelmaking prices January 19 2017
Imported iron ore market showed weak and steady performance today and the transaction activities kept diminishing amid low trading interest.
Partial iron ore traders cut down their quotations by RMB5-10/tonne. Affected by downturns in futures market, traders’ quotations turned soft due to pessimistic market sentiment. In steel market, transaction prices of finished steel products declined to different extent, barely providing support for raw materials market. According to our survey, steel mills in Hebei province maintain high inventories of raw materials as most of them almost completed stockpiling before the holiday. Currently, iron ore market seemed to undergo narrow fluctuations since bullish and bearish sentiment both existed.