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Iron Ore market reamins quiet so far this week

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


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