Spot Iron Ore Prices Rise a Little As Buyers Returned To The Market

UNITED KINGDOM August 20 2016 3:11 PM

LONDON (Scrap Register): Iron ore spot market activity picked up significantly before the weekend and prices rose a little as buyers returned to the market.

A Brazilian miner sold 61.89% Fe basis fines at floating price and later sold 65% Fe IOCJ fines on COREX at 70.8. The same platform saw 57.3% Fe Yandi fines traded at 50.85, while 62.5% Fe Vale fines changed hands at floating price.

On globalORE, 62% Fe MNP fines traded against index. In China, port stock prices were stable. Spot rebar prices in Beijing rose RMB 5/t. Spot billet prices in Tangshan rose RMB 30/t.

The most active DCE iron ore contract price jumped 3.01%, while SHFE rebar gained 0.98%. Coking coal prices have been on the rise, too. TSI’s CFR PHCC number is up 14.2% MTD.

All prices US$/dmt CFR China unless otherwise stated.