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Chinese iron ore and steelmaking prices October 23 2018

Iron ore futures market remained fluctuation today. Iron ore spot price at ports quoted RMB3-5/tonne higher than that of last Friday. In Shandong, PB fines, PB lump, Jimblebar fines and SFLA priced at RMB560/tonne, RMB760/tonne, RMB500/tonne and RMB705/tonne separately. In Tangshan, PB fines, Yandi fines, PB lump and MAC fines quoted at RMB570/tonne, RMB495/tonne, RMB755/tonne and RMB545/tonne. Traders expressed that steel mills were active in inquiry with favorable procurement sentiment, which was mainly caused by the shocked futures market in the previous week. They have strong demand in restocking this week and held promising attitude toward the upcoming market. Steel mills said that traders had strong willingness in shipment.

As for transactions, in Shandong, PB fines, SSF, FB fines and MAC fines traded at RMB550/tonne, RMB345/tonne, RMB410/tonne and RMB530/tonne, which were slightly higher than that of last Friday. In Tangshan, FB fines, PB fines, Newman fines and SSF traded at RMB410/tonne, RMB565/tonne, RMB579/tonne and RMB348/tonne.

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