Spot Iron Ore market shows positive signs

UNITED KINGDOM May 26 2017 6:23 PM

LONDON (Scrap Register): There was an uptick in activity in the spot iron ore market on Friday, though most transactions were on and index-linked basis, according to the Steel Index.

An Australian miner held a tender for 61% Fe PB Fines which concluded just above 57. On COREX, a shipment of PB lumps combined with fines and a shipment of BRBF fines (sold by a Brazilian miner) traded at floating prices.

There were also several cargoes offered against index on the platform. On globalORE, 62% Fe basis Newman fines were offered at 58.5 without any bids. 

In China, port stock prices went down around RMB 5/wmt. The most active DCE iron ore futures contract lost 0.66%, SHFE rebar went down 0.43%. 

Spot billet prices in Tangshan lost RMB 10/t. Spot rebar prices in Beijing were flat. All prices US$/dmt CFR China unless otherwise stated. Have a nice weekend.