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Chinese iron ore and steelmaking prices October 17 2018

The imported iron ore market fluctuated in a narrow range today. The spot price at port remained unchanged in the morning compared with that of yesterday. In Shandong, PB fines, Assmang fines, PB lump and Ukrainian concentrate quoted at RMB540/tonne, RMB870/tonne, RMB745/tonne and RMB755/tonne. In Tangshan, MAC fines, Jimblebar fines and screened Newman lump priced at RMB530/tonne, RMB486/tonne and RMB780/tonne respectively. Traders said that steel mills’ procurement sentiment remained stable and prudent as the futures market shocked over the past 2 days. While trades were willing to shipment with the firm-up sentiment weakened.

As for transactions, in Shandong, PB fines and SSF traded at RMB535/tonne and RMB330/tonne, remaining stable from yesterday. In Tangshan, PB fines, PB lump, SSF and Newman fines traded at RMB542/tonne, RMB725/tonne, RMB333/tonne and RMB558/tonne with declining transaction volumes.

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