Spot Iron Ore cargoes offers continue to creep lower last week

UNITED KINGDOM October 26 2015 2:36 PM

LONDON (Scrap Register): Offers for spot iron ore cargoes continued to creep lower last week.

And while a tender for 61% Fe PB Fines was rumoured to have concluded above 53 (a similar cargo having been offered yesterday at 52), the final result finally came in closer to 51. A Brazilian miner meanwhile sold 62.93% Fe SSFG Fines over the globalORE platform on a floating price basis.

Prices for iron ore port stocks in China fell RMB 5-10/wmt, despite the most active iron ore futures contract on DCE rising 1.09%.

Spot billet prices in Tangshan were steady, but the price of rebar in Beijing lost RMB 10/t. SHFE rebar futures lost 0.39%.

All prices US$/dmt CFR China unless stated otherwise. Have a nice weekend.