Iron ore prices steady in Hebei and mills see negative outlook

Saturday, 11 Feb 2012

Impacted by weak steel market, Chinese steel mills are not positive about raw material market, saying they can’t see support to higher import prices and moreover there could be a possible decline later on.

Contrary to bullish sentiment among Chinese miners, mills are stabilizing Chinese mined ore purchase prices.

Currently, in Tangshan and Qian’an, most mills dealt 65% fines at CNY 1,270 per tonne while miners quoted at CNY 940 per tonne to CNY 950 per tonne on wet basis, 17% excluded.

In Qianxi and Zunhua, mills bought 65% fines at CNY 1,250 per tonne, verus miners’ quotation of CNY 920 per tonne on wet basis, 17% excluded.

In Handan and Xingtai, mills’ purchase price for for fines vary from CNY 1,300 per tonne to CNY 1,350 yuan.

(sourced Steelguru.com)