Ferrous markets continue to tumble on spectre of rising Steel output

Published: May 16, 2016 10:01

Save

Ferrous markets continued to tumble on the spectre of rising steel output.

UNITED KINGDOM May 13 2016 6:44 PM

LONDON (Scrap Register): Ferrous markets continued to tumble on the spectre of rising steel output. Though some large mills hiked offers or announced supportive measures such as floor prices, spot steel prices remained in free-fall, said the Steel Index.

Spot billet prices in Tangshan fell RMB 50/t yesterday evening and RMB 70/t today, while spot rebar price lost RMB 100/t today. The futures slumped: The DCE iron ore futures lost 5.22% and SHFE rebar fell 4.61%. The spot iron ore market remained quiet.

An Australian miner offered 61% Fe PB Fines in a tender for which no result was heard, and PB Fines basis 62% Fe privately against index later in the afternoon. There was a wide gap between other bids and offers. On COREX, Newman fines stood at 50.3/54.78; 61% Fe PB fines were offered at 52.5 without bid.

A combi cargo of MAC and Yandi fines traded floating price. A Brazilian miner later sold 61.31% Fe fines on the same screen index-linked. In China, port stock prices lost around RMB 15/wmt.

All prices US$/dmt CFR China.

The Steel Index ferrous metals prices steel prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 hours ago

Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses

Lead prices were in the doldrums, while secondary lead smelters maintained firm offers due to losses. The mainstream spot order ex-factory prices including tax narrowed the discount to the SMM #1 lead average price by 100 yuan/mt, shifting to a premium of 0–25 yuan/mt, with some smelters halting offers and sales.

19 hours ago

"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"

Pre-holiday stockpiling by downstream enterprises had largely concluded, and a few had already entered the holiday period, completely suspending procurement. Next week, secondary lead smelters will enter a concentrated wave of production halts and holidays, resulting in sluggish trading activity in the spot market. Offers for spot refined lead orders were sparse, with prices moving in line with the market.

19 hours ago

Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt

The domestic secondary crude lead market experienced sluggish transactions. As of February 6, 2026, the ex-factory tax-exclusive offers for domestic secondary crude lead stood at 15,250-15,400 yuan/mt. Downstream refined lead and alloy smelters gradually entered the holiday period, showing weak stockpiling willingness. Overseas lead ingot suppliers basically halted transactions with China due to poor consumption in the Chinese market, with only some previously concluded shipments maintaining normal in-transit transportation. The trading atmosphere in the secondary crude lead market will continue to weaken next week.

19 hours ago