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Beijing spot Rebar prices down by RMB 25/t

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LONDON (Scrap Register): The ferrous market went quiet on Friday with almost every key indicator down. There were very few transactions taking place ahead of the weekend, reported the Steel Index.

An Australian miner sold MAC fines on an index-linked basis by private negotiation after Thursday’s index cut-off. There were numbers of fixed price bids and offers on globalORE, but with a spread of around two dollars.

In China, port stock prices lost around RMB 15/wmt. Spot billet prices in Tangshan lost RMB 30/t. Spot rebar prices in Beijing went down RMB 25/t. The most active DCE iron ore futures contract price lost 0.69%, while SHFE rebar lost 1.27%.

All prices US$/dmt CFR China unless otherwise stated.

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