Slump in the Ferrous market continues

Published: May 8, 2017 14:23

Save

The slump in the ferrous market continued on Friday. The most active DCE iron ore futures contract went down 7.41%, while SHFE rebar futures lost 2.53%, according to the Steel Index.

CHINA May 05 2017 6:14 PM

LONDON (Scrap Register): The slump in the ferrous market continued on Friday. The most active DCE iron ore futures contract went down 7.41%, while SHFE rebar futures lost 2.53%, according to the Steel Index.

Spot billet prices in Tangshan fell RMB 70/t. Spot rebar prices in Beijing lost RMB 60/t. In the spot iron ore market trades took place at much lower prices.

An Australian miner sold 62% Fe Newman fines on globalORE at 61.3. On COREX, MNP fines traded at 55. 61% Fe basis PB fines were offered at 62.5.

In China, port stock prices lost RMB 20-30/wmt again. All prices US$/dmt CFR China unless otherwise stated.

ferrous market

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 to learn 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

Feb 6, 2026 17:46

This Week, Platinum and Palladium Experienced Significant Pullbacks, End-Use Demand Recovered, and Spot Market Trading Was Normal [SMM Platinum and Palladium Weekly Review]

Feb 6, 2026 17:46

Feb 6, 2026 12:00

Silver Prices Continue to Pull Back, Suppliers Remain Reluctant to Sell, Spot Market Premiums Hard to Decline [SMM Daily Review]

Feb 6, 2026 12:00

Feb 6, 2026 09:27

A gold and silver reset, not a reversal

Gold and silver have recovered part of their recent losses following one of the sharpest corrections seen in precious metals in over a decade

Feb 6, 2026 09:27