SHANGHAI, Aug 14 (SMM) –
The most-traded DCE 2401 iron ore contract swung on a strong footing last Friday, closing up 2.07% at 739 yuan/mt last Friday. Some traders talked deals on order-by-order basis, while demand from steel mills remained sluggish. Iron ore market activity appeared subdued last Friday. The transaction prices of PB fines in Shandong were mostly 838 yuan/mt /mt, up 3 yuan/mt on the day. The transaction prices of PB fines in Tangshan were 835-843 yuan/mt, which was 3 yuan/mt higher than the previous trading day. Given waning impact of the typhoon, the daily average imported iron ore shipments from the 35 ports added 168,000 mt on a weekly basis to 3.073 million mt this week. In addition, high demand for iron ore gave some support to ore prices, resulting in a rise in ore prices in afternoon trading session. Iron ore prices may remain volatile next week amid fallout of real estate data and financial data.
