CHINA July 01 2016 6:51 PM
SHANGHAI (Scrap Register): Spot steel prices continued to gain ground in China on Friday, with spot billet prices in Tangshan jumping RMB 70/t, and rebar prices in Beijing rising RMB 80/t.
Transactions for spot ore were still incredibly thin on the ground. An Australian miner held a tender for 61% Fe PB Fines, which concluded slightly higher than 53.5.
On COREX there were numbers of cargoes offered index-linked, and late in the day BRBF fines were sold by a Brazilian miner on a floating price over the platform.
IOCJ fines were offered at 58.5 without any bid. In China, port stock prices were mainly flat.
The most active DCE iron ore contract was down 0.71% but SHFE rebar futures rose 2.35%. All prices US$/dmt CFR unless stated otherwise.