LONDON (Scrap Register): The iron ore market improved slightly on Friday, with more activities as the numbers of bids and offers increase, according to the Steel Index.
One Australian miner sold 62% PB fines on globalORE at 57 and a similar cargo of 61%Fe at COREX at 56.1.
Meanwhile, a Brazilian miner sold two cargoes of 65% IOCJ on COREX and globalORE at 70.5 and 71.25 respectively. At port, iron ore prices were about RMB5/t higher.
However, the spot steel market remains weak. Tangshan billet lost RMB10/t, Shanghai rebar spot price went down by RMB20-30 a ton.
In the futures markets, the most active contract of iron ore futures on the DCE gained 1.9%, but the SHFE rebar weakened, down by 2.2%.
