UNITED KINGDOM December 02 2016 4:32 PM
LONDON (Scrap Register): It was a quiet end to the week after a roller coaster ride in the Chinese ferrous markets. The spot iron ore market, as well as the paper markets, had a day of very thin activity with most transactions taking place index linked.
On COREX, a portside transaction for 20kt PB fines traded at a price linked to the DCE futures. On globalORE, 62% Fe SSFG fines were traded at a floating price, and 62% Fe PB fines were at 75.8/79.5. In China, port stock prices were unchanged.
Spot steel billet prices in Tangshan gained RMB 50/t, while spot rebar prices in Beijing were flat. The most active DCE iron ore contract inched up 0.17%, while SHFE rebar futures went up 1.26%.
All prices US$/dmt CFR China, unless stated otherwise.
