It is reported that in Shanxi there is strong wait and see attitude in iron ore concentrates market. Enquiries decline and transaction was very few. Affected by government’ effort for energy saving and emissions cut, most miners in Daixian and the nearby region have shut down.
At present, major iron ore concentrates quotations in Shanxi today are as follows:
1. 66% iron ore concentrates price is offered at CNY 1250 per tonne in Licheng
2. 64% iron ore concentrates price is CNY 970 per tonne in Daixian
3. 65% iron ore concentrates is CNY 980 per tonne in Loufan
4. 66% iron ore concentrates price is CNY 990 per tonne in Lingqiu and Fanchi.
Due to the influence of electricity restriction policy, iron ore mines in Daixian have all shut down, thus resource is tight locally. Stokists who hold inventory are reluctant to sell because they are optimistic about the later market. Traders basically stop transaction and become caution about the coming market trend, thus most of them hold the wait-and-see attitude.