It is reported that the iron ore concentrates in Hanxing saw mix offers during the national holiday. Now holiday just passed and iron ore concentrates price quotations in some area are evidently higher than those before the holiday. Affected by increasing market activities in nearby areas, the iron ore concentrates prices in Hanxing saw rebound and inquiries increased, yet with normal transaction.
In Hanxing, 64% iron ore concentrates’ mainstream price is CNY 980 per tonne to CNY 1000 per tonne. However, miners and traders offers are a little bit higher. Both suppliers and buyers hold strong wait-and-see attitude. It is the first day after the 7 day national holiday break, and most traders at steel market are holding wait-and-see attitude. We notice that the traders’ sale prices remain mainly stable. We discovered that some steel mills have resumed production activities as the power limitation enforcement level in Hanxing has weaken compared with the early stage.
Iron ore processing mills in Wuan have gradually resumed production yet there is limit resources available in local market. Meanwhile some miners, which were ordered to shut down at early stage are still holding inventory and reluctant to sell, hoping that the later market would turn to better. We see little transaction in the market, and given the later market is unclear, traders are more caution and mainly hold wait and see attitude.
Source: MySteel
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