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Physical Billet prices in Tangshan moves higher

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LONDON (Scrap Register): The week ended with a flurry of transactions from the ‘big three’ miners.  An Australian miner sold 61% Fe PB fines slightly above 73 via tender, over a dollar higher than yesterday, according to the Steel Index.

Another Australian miner traded NF at a price close to 76 on COREX and 60.9% Fe fines on a floating price basis. A 65% Fe IOCJ cargo was sold on COREX by a Brazilian miner at 91.25, while yesterday the similar cargo was done at 90.4.

Ferrous futures markets also rose. The most active iron ore contract on DCE rose 1.1%, while SHFE rebar futures gained 3.63%. In China, physical billet prices in Tangshan also moved RMB 50/tonne higher.

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

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