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Spot Billet prices show down trend in Tangshan

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LONDON (Scrap Register): Ferrous markets turned southwards on Friday, in what was another relatively quiet day of trading, according to the Steel Index.

An Australian miner sold 61% Fe PB Fines via private negotiation on a FOB basis to a buyer in northeast Asia (not index admissible).

Another Australian miner sold a shipment of Jimblebar combined with Newman fines at a floating price.

On COREX, a large shipment of FMG Blend fines traded at 48.5, and Brazilian BRBF fines were offered at 66.35 without any bids. In China, port stock prices lost RMB 5-10/wmt.

The most active DCE iron ore futures contract went down 1.43%, while SHFE rebar lost 1.55%. Spot billet prices in Tangshan lost RMB 10/t.

Spot rebar in Beijing fell RMB 25/t. All prices US$/dmt CFR China unless otherwise stated. Have a nice weekend.

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