China Railway No.10 and Leone Rock Metals signed iron ore mine phase II mining project contract

China Market: [Flat Products] Flat-product exports steady day-on-day, HRC deals at 489-497 USD/tonne On 9 July, Chinese HRC and other flat-product export prices were steady day-on-day, with HRC export deals concluded at 489-497 USD/tonne FOB. Inquiries on the day were lackluster and slowed somewhat from the previous day. As the price advantage of semifinished products narrowed, some traders began to pay less attention to those items. [Billet] Billet export FOB steady at 459-462 USD/tonne amid buyer-seller standoff On 9 July, Chinese billet export FOB prices held steady, quoted at 459-462 USD/tonne. Market feedback indicated that with domestic mills' costs still rising, exporters were more hesitant on offers and had little room to concede, while against overseas benchmarks Chinese billet offers held no clear advantage; inquiries existed, but with buyers and sellers locked in a standoff, actual trading stayed lukewarm. On specific terms, 3sp billet in 150*150 was offered at 460 USD/tonne FOB out of Jiangyin port. [Rebar] Rebar export offers mostly steady; typhoon halts Yangtze terminals and delays shipments On 9 July, Chinese rebar export offers were mostly steady, with a few mills nudging prices up slightly. Market feedback noted that recent typhoon weather had idled more terminals along the Yangtze River, and shipping schedules were likely to see widespread delays. On specific terms, B500B rebar in Φ18 was offered at 483 USD/tonne FOB out of Tianjin port.

Today, the DCE iron ore futures trended weak today, with contract I2609 closing at 745.5 yuan/mt, up 0.27% from the previous trading day. Port spot prices ranged from -2 to +3 yuan/mt compared with the previous trading day.