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Global Iron Ore market continues bearishness

The interminable slump in prices on the DCE iron ore futures continued on Friday, with the most active contract falling almost 2.5%, as per the Steel Index.

It was a typically quiet Friday for the physical commodity though, with only a limited amount of iron ore spot trade going through ahead of the weekend.

An Australian miner held a tender for 61% Fe PB fines which concluded just under half a dollar below yesterday’s level. It sold another cargo over globalORE on an index-linked basis.

A Brazilian miner meanwhile sold 61.32% Fe iron ore fines (>7% silica) in a tender at just above 62. PB fines traded privately.

In China, trade at port was limited with no price move. Spot rebar prices in Shanghai fell RMB 40/t, but billet prices in Tangshan rose 10/t.

All prices $/dmt CFR China unless stated otherwise.
Source: Scrap Register

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