CHINA December 09 2016 4:33 PM
LONDON (Scrap Register): The spot iron ore market was almost totally mute on Friday with few transactions taking place.
A shipment of MNP combined with Newman lumps traded in an index-linked deal late this afternoon, sold by an Australian miner.
On COREX, 80kt 57.2% Fe basis Yandi fines were offered at 72.2 with the bid price only at 69.2. Bid prices for this cargo were even lower privately, since buyers have become hesitant due to the uncertain market direction.
In China, port stock prices went down around RMB 10/wmt. Spot billet prices in Tangshan went up RMB 20/t. Spot rebar prices in Beijing were flat.
The most active DCE iron ore contract lost 2.68%, while SHFE rebar futures slipped 0.54%.
All prices US$/dmt CFR China, unless stated otherwise.
