NEW YORK (Scrap Register): The stand-off between buyers and sellers was exacerbated on Friday, with bids and offers in the private off-screen market having an increasingly wide gap. Most buyers retreated to the side-lines before the weekend, according to the Steel Index.
An Australian miner held a tender for 61% Fe iron ore fines which came in just above 58, a touch lower than a similar deal which went through on the COREX screen at 58.12 after Thursday’s index cut-off. Another Australian miner sold a number of fines cargoes at floating price late yesterday.
In China, port stock prices kept stable. The most active DCE iron ore futures contract was up 0.68%, while SHFE rebar rose 0.53%. Spot rebar price in Beijing was flat. Spot billet prices in Tangshan lost RMB 20/t.
(All prices US$/dmt CFR China unless stated otherwise.)
