The price of domestic iron ore is expected to stabilize this week, and Shandong market may see some declines. Domestic ore prices were mixed last week, according to SMM data. Prices in eastern Liaoning rose slightly, while prices in some regions of Hebei dropped.
A spike in Capesize ship demand buoyed up the bulk dry shipping market in August, causing the Baltic dry Index to close last Friday at 1,096 points, up 341 points from July 31.
United States shredded scrap prices remained flat again last week to finish at $382 a long ton (delivered mill).