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Chinese iron ore and steelmaking prices June 19 2018

Imported iron ore market remains firm in the morning and partial traders are inclined to raise quotations for mainstream iron ore lumps due to good demand; most traders tend to focus on sales. Steel mills in North China are active in inquiring high grade iron ore lumps.

Spot transaction remains favorable along with higher trading volumes of iron ore lumps. Tangshan ports see active trade, while Shandong and Yangtze River ports are lukewarm. The restriction in transportation and the closure of navigation in Yangtze River ports to some extent affected transaction. PB fines heard trade at RMB459/tonne and RMB466/tonne in Tangshan ports, and RMB460/tonne in Shandong.

Imported iron ore remains weak due to strong wait-and-see atmosphere. Some traders express there’s sales pressure for PB fines, iron ore resources from BHP Billiton and low alumina resources sell well. The sintering cut and production restriction in steel mills has in part weighed down demand for iron ore fines.

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