China's new iron ore trading platform operated by China Beijing Metals Exchange (CBMX) has announced transaction details for its first week of trading (May 8-14).
Transaction applications totaled 80. However, only six deals were concluded with an aggregate transaction value of RMB 609 million ($96.60 million). The concluded transactions were for 172,800 mt of Brazilian 63.5 percent fine ore at the price of RMB 887/mt ($140.26/mt), 57,000 mt of Australian 54 percent fine ore at RMB 641/mt ($101.36/mt), 165,000 mt of Australian PB fine ore at RMB 911/mt ($144.06/mt), 20,000 mt of Brazilian 65 percent fine ore costing RMB 1,080/mt ($170.78/mt), 110,000 mt of Australian 62 percent fine ore at RMB 876/mt ($138.52/mt) and 165,000 mt of Brazilian 63.5 percent fine ore at a price of RMB 851/mt ($134.57/mt).