Spot billet prices in Tangshan up RMB 30 a ton-Shanghai Metals Market

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Spot billet prices in Tangshan up RMB 30 a ton

Industry News 10:56:15AM Nov 28, 2016 Source:scrapregister

CHINA November 25 2016 4:42 PM

LONDON (Scrap Register): It was more of the same today as steel mills continue to chase high grade fines, as well as material with low silica, while buoyant global commodities markets fueled the on-shore futures, according to the Steel Index.

The most active DCE iron ore contract (now May 17) jumped 5.29% today, while SHFE rebar futures went up 1.27%. An Australian miner sold 61% Fe PB Fines via tender above 76. 

On COREX, similar fines were offered at 76.5 with a bid at 75.31, a shipment of Newman fines combined with Yandi fines and another shipment of FMG Blend fines all traded at floating price. 

On globalORE, BRBF fines changed hands in an index-linked deal; Newman Fines (62% Fe) stood at 77/78.15. 

In China, iron ore port stock prices gained another RMB 10/wmt, and high grade port stock prices are now higher than for equivalent seaborne cargoes. Spot billet prices in Tangshan rose RMB 30/t, spot rebar prices in Beijing were flat. 

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

Key Words:  billet prices 

Price

more
62% Fe Fines (Qingdao Port): IOPI62
Jul.23
917.0
-1.0
(-0.11%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Jul.23
124.3
-0.2
(-0.20%)
58% Fe Fines (Qingdao Port): IOPI58
Jul.23
822.0
5.0
(0.61%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Jul.23
112.2
0.6
(0.55%)
65% Fe Fines (Qingdao Port): IOPI65
Jul.23
989.0
4.0
(0.41%)

Spot billet prices in Tangshan up RMB 30 a ton

Industry News 10:56:15AM Nov 28, 2016 Source:scrapregister

CHINA November 25 2016 4:42 PM

LONDON (Scrap Register): It was more of the same today as steel mills continue to chase high grade fines, as well as material with low silica, while buoyant global commodities markets fueled the on-shore futures, according to the Steel Index.

The most active DCE iron ore contract (now May 17) jumped 5.29% today, while SHFE rebar futures went up 1.27%. An Australian miner sold 61% Fe PB Fines via tender above 76. 

On COREX, similar fines were offered at 76.5 with a bid at 75.31, a shipment of Newman fines combined with Yandi fines and another shipment of FMG Blend fines all traded at floating price. 

On globalORE, BRBF fines changed hands in an index-linked deal; Newman Fines (62% Fe) stood at 77/78.15. 

In China, iron ore port stock prices gained another RMB 10/wmt, and high grade port stock prices are now higher than for equivalent seaborne cargoes. Spot billet prices in Tangshan rose RMB 30/t, spot rebar prices in Beijing were flat. 

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

Key Words:  billet prices