Shanghai spot Rebar prices slip RMB 20 a ton

CHINA August 22 2015 10:10 AM

LONDON (Scrap Register): It was a quiet Friday to cap off what was a relatively lackluster week. Most spot ore trades continue to be on an index-linked basis.

An Australian miner sold PB Fines on a 62% Fe basis at a floating price over the globalORE platform for October arrival. It later sold a September loading cargo over COREX at a fixed price slightly higher than seen in a tender yesterday.

Late in the day a Brazilian producer sold 63.5% Fe BRBF also on an index-linked pricing arrangement. In China, spot billet prices in Tangshan edged up RMB 10 a ton.

The most active SHFE rebar contract was down by just 0.44%, whilst the DCE iron ore contract rose by just over 1%.

Spot rebar prices in Shanghai slipped RMB 20 a ton. All prices US$/dmt CFR China unless stated otherwise.