Spot Iron Ore market remains quiet this week

UNITED KINGDOM April 15 2016 4:42 PM

LONDON (Scrap Register): The spot iron ore market ended the week quietly as many market participators made their way back from an industry conference in Wuhan. Sentiment was bearish, however, with almost every key indicator down, said the Steel Index in a research note.

An Australian miner sold 61% Fe PB Fines via tender at below 57, then later sold a larger shipment of the same product over the COREX screen at 57.5. Most off-screen offers in the market were on a floating price. 

In China, port stock prices were down about RMB 10/wmt on diminished trading activity. Spot rebar prices in Beijing lost RMB 55/t, and spot billet in Tangshan was down RMB 30/t again. 

The most active DCE iron ore futures contract was down 3.31% and SHFE rebar lost 2.13%. All prices US$/dmt CFR China unless otherwise stated.