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SteelHome Briefing (Mar.11, 2020): Iron Ore, Semis, Scrap

  • China China  
  • Last Updated:
    Posted on: 18 Nov 2020

  • Buying Frequency: Monthly
  • Payment Terms: T/T

RFQ Details

Iron Ore
The seaborne price rose after previous drops this week. For 61.5%-Fe PB fines, it was 89-90 dollars/t (CIF), roughly flat from the one on last Friday. Meanwhile, the spot price slightly fluctuated during the week. At ports, PB fines was 655-680 yuan/t; Jimblebar fines 595-615 yuan/t; IOCJ 805-825 yuan/t; Super Special fines 530-560 yuan/t.
China's iron ore futures rebounded on Tuesday. Due to financial strain, mills were waiting for the further market developments. Meanwhile traders were inactive in shipping iron ore at a low price, bringing slack transactions this week. Therefore, SteelHome considers that prices of iron ore would slightly fluctuate in the near term.
1.1 Highlight
Last week, Australian iron ore shipments rose by 3.267 million tons to 18.367 million tons, while Brazil's shipments declined by 3.022 million tons to 2.763 million tons. The total shipments of the two countries were 21.13 million tons, with an increase of 0.245 million tons week-on-week.
1.2 Trading Tips
Traders are suggested to circulate iron ore inventory to reduce cost. Mills are suggested to properly replenish stockpiles.

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