Chinese domestic iron ore market performed stable, while the real transactions state stood stagnant. Firm and rising quotes of imported iron ore threw some positive signal to Chinese market but steel market failed to boom at present. Some insiders believed that Chinese steel prices nearly bottomed recently. However, as rebar prices dipped sharply in Beijing yesterday, some players were still negative to future market. Even buyers would restocks before Chinese New Year, the procurement amount might not be that optimistic. Spot prices for 61.5%-Fe PB fines sustained to RMB500/wmt at Qingdao Port, including RMB35/tonne port charges and 17% VAT. Prices of 66% iron ore concentrates in Tangshan stood at RMB 620/tonne.
Source: hellenicshippingnews
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