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Home / Metal News / DCE Iron Ore, SHFE Rebar futures rise Apr 24

DCE Iron Ore, SHFE Rebar futures rise Apr 24

iconApr 27, 2015 10:22
Source:SMM
With DCE iron ore futures rising to the limit again on Friday, and SHFE rebar futures gaining 2.41%, sellers of spot ore looked to take advantage of improved sentiment and firmer demand.

 

UNITED KINGDOM April 24 2015 5:18 PM
LONDON (Scrap Register): With DCE iron ore futures rising to the limit again on Friday, and SHFE rebar futures gaining 2.41%, sellers of spot ore looked to take advantage of improved sentiment and firmer demand. 
 
According to the Steel Index, there were numerous deals taking place, mostly on-screen, and mainly for PB fines, which remains in high demand. A trader sold a May-delivery 62% fe PB fines cargo over globalORE at 57. 
 
On COREX, PB fines on a 61% Fe basis were bought by a mill at 57, and later there was a sale by a miner of the same product at 58. A Brazilian miner sold 65.47% Fe fines at nearly 66.5. 
 
The price of port stocks in China rose RMB 10/t. Billet prices in the Tangshan region jumped RMB 40/t. Rebar prices in major Chinese cities were up RMB 10-50/t, with the stronger gains seen in the north. 
 
All prices US$/dmt CFR China unless stated otherwise.
DCE iron ore futures price
SHFE rebar prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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