The spot iron ore market was quiet with very few transactions seen on Friday. Traders lowered their prices for privately offered cargos, as per the Steel Index.
On COREX, a combined cargo of Mac fines 57.3% Fe Yandi fines was offered at 67.5 and 59.5 respectively. On globalORE, PB fines on a 62% Fe basis were offered at 71.5 for February and bid at 69. Yandi Fines basis 58% Fe stood at 61/63.2 for material arriving the same month.
In China, prices for port stocks at major Chinese hubs were flat on an RMB/wmt basis. The most active iron ore contract on DCE fell 0.39%, while SHFE rebar contract slipped 0.89%.
Spot rebar prices fell RMB 10/t in Shanghai and RMB 40/t in Beijing. Most billet prices in Tangshan were flat, however, several mills lowered their prices by RMB 10/t.
Zhejiang Yaang Pipe Industry Co., Limited