CHINA May 12 2017 4:47 PM
LONDON (Scrap Register): On-shore futures markets were quite negative on Friday, with the most active DCE iron ore futures contract falling 2.38% and SHFE rebar futures losing 2.94%, according to the Steel Index.
The spot iron ore market also saw lower price transactions. An Australian miner sold 63% Fe fines at 61.45 on COREX.
On the same platform there cargoes of 61% Fe PB fines offered at 58.5, while 65% IOCJ fines were offered at 73.1 – none of which attracted any bids. A Brazilian miner sold BRBF fines on globalORE at floating price.
In China, port stock prices were basically flat on Friday. Spot billet prices in Tangshan gained RMB 10/t. Spot rebar prices in Beijing ware stable.
All prices US$/dmt CFR China unless otherwise stated.