AUSTRALIA November 17 2014 9:12 AM
LONDON (Scrap Register): Global Iron ore market reported a quiet end last week. Despite mills in northern China getting the go-ahead to resume production following the shutdown during the APEC Summit, the iron ore market remains moribund.
According to TSI, some iron ore traders reported better buying interest on Friday, though a tender opened for Australian 61% Fe PB fines yielded no result. On globalORE, PB fines on a 62% Fe basis were bid at 75.6 against an offer at 76.4.
The only trade was for a cargo of 58% Yandi Fines on a floating price. It was a relatively flattish day again on the Chinese exchanges, with SHFE rebar down by around 0.3% and DCE iron ore up just 0.2%.
Billet prices in the Tangshan region fell RMB 10/t. All prices US$/dmt CFR China unless stated otherwise.