Ferrous markets continue to firm on Friday

UNITED KINGDOM December 21 2015 11:18 AM     

LONDON (Scrap Register): Ferrous markets continued  to firm on last Friday, with almost every key indicator pointing upwards, as per  the Steel Index.

DCE iron ore futures were up by more than 2% while the  SHFE rebar futures rose 1.72%. There was an uptick in buying activity for port  stock material in China, where prices for mainstream imported grades firmed RMB  10/wmt. The seaborne market also saw better buying interest.

On  globalORE, bids for 62% Fe PB Fines were as high as 39.5. An Australian miner  sold the same product on a 61% Fe basis over the COREX screen at the same price.  On the same platform, 57.3% Fe Yandi Fines were offered at 36 and bid  34.8.

Late in the day Brazilian BRBF Fines traded on globalORE on a  floating price basis. All prices US$/dmt CFR unless stated otherwise.