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DAILY: China's Iron Ore Prices Dropped after Hitting $128

https://en.steelhome.com [SteelHome] 2020-09-09 17:47:46

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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)
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