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Chinese iron ore and steelmaking prices November 05 2018

China’s iron ore futures market slumped in the morning, leading to the decreased of RMB5-10/tonne of spot prices at ports. In Shandong, Yandi fines, Carajas fines and Ukrainian concentrate priced at RMB525/tonnr, RMB760/tonne and RMB760/tonne. In Tangshan, FB fines, Jimblebar fine, Yandi fines and BRBF quoted at RMB435/tonne, RMB425/tonne, RMB535/tonne and RMB665/tonne respectively.

Although traders had strong willingness to shipment, they remained wait-and-see toward the market due to the high prices today. While steel mills were active in inquiry, but the actual transaction volume was not very large. With the approaching of implement of winter production control policies, plus the increasing shipment of the overseas mines, iron ore prices are predicted to turn weak later.

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