Weekly Summary of Iron Ore Market Domestic: Chinese domestic iron ore prices nudged up amid stability while imported iron ore presented overall rises. Some steel mills temporarily took wait-and-see stance following the rapid rise of offshore quotation to China and capital tightness also reined in their purchasing volume. Thus, imported iron ore prices are expected to grow at slower pace or pull back slightly next week. Imported Iron Ore Spot prices of imported iron ore at Chinese ports gained modestly on higher trading volume. As of Friday, prices of PB fines, 58% Yandi fines, Rocket Sinter fines and 63.5% Brazilian fines reached 920-940 yuan per tonne, 830-840 yuan per tonne, 810-820 yuan per tonne and 950-960 yuan per tonne respectively, up 10-15 yuan per tonne from last weekend. The offshore quotation for shipments to China posted a cumulative growth of US$ 3-4 per tonne. Prices of Australian PB fines and 65% Brazilian fines reached US$ 135-136 per tonne and US$ 147-148 per tonne, cif, China. PB lump prices have risen to US$ 153-154 per tonne on tight supplies. Ocean Freight As of Thursday, the freight of Brazil-China line was US$ 22.267 per tonne, up US$ 2.259 per tonne from last weekend; Western Australia-China line was US$ 9.052 per tonne, up US$ 0.934 per tonne from the previous week. #Steelhome
Posted on: Fri, 08 Nov 2013 16:24:46 +0000
Trending Topics
Recently Viewed Topics
© 2015