Benchmark 62% iron ore’s spot
price dropped by $1.27 to $126.73 a tonne on Wednesday, based on
SteelHome consultancy data SteelHome
China Iron Ore Price Index (SHCNOI).
According to SteelHome survey,
traders were inactive in iron ore sales at a low offer. Meanwhile, the
overall inquiries from mills were slack.
Currently, the supply of
Brazilian fines is tight in Tangshan and Shandong. After prices of IOCJ
and Super Special fines rose lately, mills have decided to adjust the
utilization of different iron ore products in their steelmaking
operations.
SteelHome considers that prices
of iron ore may observe rangebound movements amid current high levels in
the short run.
Other Info: Price
Aggregates of Imported Ore at China Main Ports on Sep. 9, 2020 |
(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837 18725550282) |