DAILY: China's Iron Ore Prices Down amid Declined Utilization of IOCJ
Benchmark 62% iron ore spot price dropped by $0.92 to $127.2 a tonne on Tuesday, based on SteelHome consultancy data SteelHome China Iron Ore Price Index (SHCNOI).
According to SteelHome survey, traders were active in iron ore sales. For mills, most of them were inactive in procurements, bringing the overall transactions to drop from the prior trading day.
Currently, the supply of tradable Brazilian fines is tight in Shandong and Tangshan. Though there is no standard-specification IOCJ in Shandong, the supply of High-P IOCJ is sufficient in this area.
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