It is reported that imported iron ores quotations in Hebei market hold stable today. Traders are generally upbeat on market outlook.
The spot iron ore resources in Hebei major ports are mainly Australian ones, low quality Indian fines and also other varieties like Iran fines. Steel mills are considering importing cheaper cargoes from small countries. Big traders have raised quotations this week, yet this does not echoed by local steel mills, as transactions do not grow compared with last week. However, traders are still in a bullish mood, attributed to soaring billet price, firm domestic iron ores and steel production recovery this week.
Till noon, 63.5% Indian fines in Tangshan stays at CNY 1240 per tonne to CNY 1260 per tonne while that in Tianjin port stands at CNY 1230 per tonne to CNY 1240 per tonne. 61% Indian fines is posted at CNY 1120 per tonne to CNY 1140 per tonne, 58% India fines is quoted at CNY 970 per tonne to CNY 980 per tonne, PB fines is settled at CNY 1200 per tonne. 64.5% Brazilian coarse fines is fixed at around CNY 1300 per tonne while that in Tianjin is CNY 20 per tonne lower.