Sentiment in the ferrous market remains negative

UNITED KINGDOM December 30 2016 12:14 PM

LONDON (Scrap Register): Sentiment in the ferrous market was more negative on Friday, with the on-shore futures markets pointing South. 

In the morning, the most active DCE iron ore contract lost 2.83% while SHFE rebar futures lost 1.86%. Traders lowered offer prices in search of buyers, but transactions were thin. 

On COREX, there were numbers of fixed offers at lower prices than yesterdays’, but these attracted no bids. 

In China, port stock prices were basically unchanged. Spot rebar prices in Beijing lost RMB 10 a ton. 

All prices US$/dmt CFR China unless stated otherwise.