Malaysian iron ore sales bad at ports Google Bookmarks

       With low prices of iron ore from Australia and Brazil, Malaysian iron ore is facing unpleasant sales now.

A Jiangsu based trading company holds 50,000-60,000 tons of Malaysian iron ore now. A source from the company mentions that 65%min iron ore concentrate price is around RMB530/wt VAT included FOT.

“It’s hard to sell Malaysian iron ore now. Steel factories prefer to consume mainstream iron ore now,” claimed a source from the company.

A Hangzhou based trading company offers PB fines at RMB495/wt VAT included FOT at Changjiang ports. The company also imports some iron ore from Malaysia, but no stock now. It sold 2 ships of Malaysian iron ore fines and lumps to Hanzhou Iron & Steel and Nanjing Iron & Steel two weeks ago. The price of 54%min iron ore fines was USD46/t CFR Changjiang ports.

“After the deal was concluded two weeks ago, we did not receive other inquiries of Malaysian iron ore. Because of unpleasant sales, we do not hold stock and begin to import when there is actual demand,” noted a source from the company.

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