Sentiment in the ferrous market remains negative

Published: Dec 30, 2016 19:46

Save

Sentiment in the ferrous market was more negative on Friday, with the on-shore futures markets pointing South.

UNITED KINGDOM December 30 2016 12:14 PM

LONDON (Scrap Register): Sentiment in the ferrous market was more negative on Friday, with the on-shore futures markets pointing South.

In the morning, the most active DCE iron ore contract lost 2.83% while SHFE rebar futures lost 1.86%. Traders lowered offer prices in search of buyers, but transactions were thin.

On COREX, there were numbers of fixed offers at lower prices than yesterdays’, but these attracted no bids.

In China, port stock prices were basically unchanged. Spot rebar prices in Beijing lost RMB 10 a ton.

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

ferrous scrap

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Ahead of the Weekend, Scrap Utilization Enterprises Buy the Dip [SMM Secondary Copper Daily Review]

11 hours ago

Primary Aluminum Fell by a Further 250 Yuan/Mt, Aluminum Scrap Market Followed the Decline Overall [Aluminum Scrap Daily Review]

11 hours ago

12 hours ago

[SMM Analysis] High Copper Prices Weigh on Demand as Payable for Copper Scrap Diverge

[SMM Analysis: High Copper Prices Weigh on Demand as Payable for Copper Scrap Diverge]No.1 and No.2 copper materials came under greater pressure. Smelter maintenance, seasonal weakness in downstream demand and historically high copper prices led buyers to reduce procurement volumes and focus mainly on immediate production needs. By mid-August, No.1 copper payabilities had eased to around 96%-97%, while US No.2 copper materials traded near 95.5% and European No.2 copper materials around 94.5%-95%

12 hours ago