Metal & Oil & Gas News –
Another quiet week in the iron ore market ended with the same absence of direction it began with.
According to TSI, a Brazilian miner sold via tender a cargo of 61.89% Fe fines at just over 92. On globalORE, there were offers for August delivery cargoes of Newman Fines and MNP fines, both on a 62% Fe basis, at 97 and 96 respectively.
September delivery PB fines on a 62% Fe basis were bid at 95. Yandi fines on a 58% Fe basis were bid at 80 on the platform for August arrival.
Low grade Australian fines traded privately post-index yesterday. In China, the price of iron ore stocked at port slipped again by another RMB 5/t.
Rebar and iron ore futures on the domestic exchanges both settled around 1% lower compared with Thursday.
All prices US$/dmt CFR China unless otherwise stated.
Source:Scrap Register
