Chinese iron ore and steelmaking prices July 19 2018
China’s imported iron ore market extended the narrow fluctuation. Traders were active in spot market while steel mills showed no strong buying interests. Mainstream iron ore resources were quoted firm and some Brazilian resources saw a slight price hike. Traders expressed that due to stable market prices and high stocks of mainstream resources at ports, steel mills were not eager to stock up; Steel mills still had some demand for low alumina resources, but the production restriction in Tangshan has largely weighed down spot market. With increasing shipments from miners, steel mills were not worry about the supply.
Transactions remained flat with PB fines traded at RMB465/tonne in Tangshan, SSF at RMB280/tonne, FB fines at RMB347/tonne and Ukrainian iron ore pellet at RMB965/tonne. The production control in Tangshan and production resumption in some mills in Xuzhou exerted limited impact on market prices, it was the ample supply that cause the narrow fluctuation recently.