Chinese iron ore and steelmaking prices March 13 2018
Morning offers of traders basically held steady today. Some traders are still willing to deliver cargos. Steel mills mainly take a wait-and-see attitude towards the following prices and their purchases stand at a normal level as planned.
Market Transactions: Spot market sees flat performance today and prices hold steady. Transaction prices of partial resources decrease by RMB10-15/tonne influenced by slack demand of some resources. Spot market prices are depressed obviously by market demand given futures market and iron ore stocks. Spot market transactions stay brisk in Tangshan and Shandong, focusing on mainstream middle grade resources.
Market Supply-demand: Steel mills are mainly bearish towards the following market and not desire to make purchases. Some purchasers expressed that they raise the purchase of cargos with high quality and low cost in recent days. Their purchases for mainstream cargos stay at a normal level. Many traders face high cost pressures and suspend their sales.