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.