Chinese Spot Iron Ore market remains quit last week

CHINA July 25 2016 9:39 AM 

LONDON (Scrap Register): Mirroring China’s recent unpredictable weather, the country’s ferrous markets turned southwards again after Thursday’s rebound, said The Steel Index. 

In Tangshan some steel mills lowered their spot billet prices by RMB 10-20/t to 2000/t. Spot rebar prices in Beijing lost RMB 30/t.

The most active DCE iron ore contract went down 0.92%, while SHFE rebar futures lost 1.83%.The spot iron ore market was dead, as it has been for much of the past month. 

An Australian miner sold 61% Fe basis PB Fines by tender just above 55, then sold a small shipment of same product at slightly higher price via private negotiation. 

A Brazilian miner sold 62.5% Fe BRBF fines on globalORE at a floating price. On the same platform, SSFG fines were offered at 56.4. MNP fines were offered at 57. 

Neither attracted any bids. In China, port stock prices were slightly down on thin transactions. All prices US$/dmt CFR unless stated otherwise.