Iron ore: Chinese import prices flat on thin trading

Metal Recycling News  |  2012-01-27 08:14:54   |   By

In its weekly report, TSI pointed out that iron ore prices for imported 62% Fe (CFR,Tianjin port) was $139.8 per dry tone, while 58% Fe was quoted flat at $124.8.

By Scrap Monster

China import prices for iron ore prices were flat this week on thin trading and the market was more or less dead, according to The Steel Index (TSI).

In its weekly report, TSI pointed out that iron ore prices for  imported 62% Fe (CFR,Tianjin port) was $139.8 per dry tone, while 58% Fe was quoted flat at $124.8.

Iron ore fines at CFR, Qingdao Port were: $141.6 per dry tonne  (-0.1% down) for 62% Fe, 2% Al, while 63.5%/63% Fe was quoted at $ 143.9 (-0.1% down)

“The week ended as it began for the spot iron ore market - dead. The swaps continued to creep higher on thin trading. Traders broadly expect physical iron ore prices to move up next week, but concerns about high stock levels in China linger. Bulk freight rates continue to slide on the lack of activity in the iron ore market. With the Chinese officially back to work on Sunday, we hope to see a pickup in spot buying early next week. Have a nice weekend!,”  TSI report said.