Chinese Iron Ore Fines Import Prices Decline

CHINA June 16 2014 11:25 AM SHANGHAI (Scrap Register): Iron ore fines import prices at China's CFR Tianjin Port declined last Friday, as per the latest report released by the The Steel Index (TSI).

The slide in steel and futures prices continued in China, sapping yet more confidence in the iron ore market.

Despite this, a tender for 61% Fe PB fines concluded at over $90.5/dmt, a slightly better price than Thursday, while another Australian miner sold via bilateral negotiation 60.8% and 62.3% Fe fines at comparable prices.

These looked high compared to the rest of the market, however. Elsewhere PB fines were heard offered at 90/dmt, while offers for 62% Fe MNP fines on the global ORE screen were seen below 90/dmt.

A tender for 64.63% Fe Brazilian fines concluded at just above 97/dmt. In China, prices for imported ore stockpiled at ports in Shandong fell RMB 10/t, though were stable in Tangshan.

Billet prices in Tangshan fell by RMB 10 a ton.