Iron Ore markets remain quiet

CHINA November 18 2016 4:29 PM

LONDON (Scrap Register): It was a quiet day in iron ore markets, following the slump in prices earlier this week. Appetite for spot cargoes was lacking, following another decline in the on-shore futures markets, reported the Steel Index.

An Australian miner sold 63% Fe basis Newman fines on COREX, on a floating price basis whilst another shipment of MNP fines also changed hands on the same platform, on an index-linked basis. 

A 61% Fe PB fines cargo was offered at 72.5 but only attracted a bid at 67. In China, iron ore port stock prices lost around RMB 5/wmt.

The futures market saw the most active DCE iron ore contract lose 2.3% and SHFE rebar futures also closed lower, down 0.47%. Spot rebar and billet prices in Beijing and Tangshan respectively, were flat day-on-day. 

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