CHINA November 04 2016 4:03 PM
LONDON (Scrap Register): News about Tangshan government redoubling its efforts to tackle emissions due to the heavy ‘smog’ in northern cities spread in the market this afternoon, though the immediate impact on the Iron ore markets was muted.
Reportedly all steel mills in the city are required to shut down their sinter furnaces and bank furnaces until further notice.
An Australian miner sold 62% Fe basis PB fines on globalORE at a floating price. Another Australian miner sold a combined shipment of fines on a floating price by private negotiation late yesterday.
On COREX, a shipment of Jimblebar fines combined with Newman fines also traded index-linked.
In China, port stock prices went up around RMB 5/wmt on an uptick in activity. Billet prices in the Tangshan region rose RMB 30/t, and rebar prices also rose RMB 15/t in Beijing.
The DCE iron ore futures were up 1.01% and SHFE rebar futures gained 2.65%. All prices US$/dmt CFR China unless stated otherwise.