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Monday, January 30, 2012

Hebei iron ore prices steady after Chinese New Year

Monday, 30 Jan 2012

Iron ore prices are steady in Northern China’s Hebei on January 29, with levels holding steady amid thin trade. Mills have resumed operation on the end of national holiday but most miners and beneficiation plants are likely to be back to work till February 06.

As sentiment turned positive on post-holiday market, part trading companies raised quotations by 10 yuan. Currently mills have yet resumed restocking and thereby leaving their purchase prices steady.

In Tangshan and Qi’an, mills set purchase prices of 66% concentrates at around CNY 1,240 to CNY 1,250 versus miners’ quotation of CNY 920, In Zunhua and Qian’xi, mills buy 66% fines at around CNY 1,220 to CNY 1,230 compared with the quotation of CNY 890 to CNY 900 from miners.


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