20 July, 2012
BEIJING (Commodity Online): Imported iron ore fines prices continued to plummet as steel industry demand continues to look incredibly weak forcing buyers and sellers to withdraw to the sidelines. The World Steel Association has also reported marginal fall in crude steel production in major producing nations of the world.
According to The Steel Index, Iron Ore fines 62% Fe traded 0.5% lower at $125 per dry tone (having fallen 9% in a month) and 58% Fe was traded at $117.2, a fall of 0.4% on week and 5.1% in a month at Tianjin port. TSI report said that 62% Fe, 2% Al iron ore fines at Qingdao Port was traded at $126.8, a fall of 4.9% in past five days and 63.5%/63% Fe was offered at $128.5 per dry tone, representing a fall o f4.8%.
A large mining company concluded a cargo of 65% Canadian pellet (not index permissible) at 151. Newman fines were heard offered in the range 128- 129. On China’s CBMX platform Australian 56.7% fines were offered 115 and 59% fines were offered 125. There were no bids. In China SHFE rebar futures plummeted nearly 2% to levels not seen since October 2009. Spot rebar in northern China was down RMB 20-40/t (US$3-6/t). Billet also slipped. All prices US$/dmt CFR China unless otherwise stated, TSI report added.
BEIJING (Commodity Online): Imported iron ore fines prices continued to plummet as steel industry demand continues to look incredibly weak forcing buyers and sellers to withdraw to the sidelines. The World Steel Association has also reported marginal fall in crude steel production in major producing nations of the world.
According to The Steel Index, Iron Ore fines 62% Fe traded 0.5% lower at $125 per dry tone (having fallen 9% in a month) and 58% Fe was traded at $117.2, a fall of 0.4% on week and 5.1% in a month at Tianjin port. TSI report said that 62% Fe, 2% Al iron ore fines at Qingdao Port was traded at $126.8, a fall of 4.9% in past five days and 63.5%/63% Fe was offered at $128.5 per dry tone, representing a fall o f4.8%.
A large mining company concluded a cargo of 65% Canadian pellet (not index permissible) at 151. Newman fines were heard offered in the range 128- 129. On China’s CBMX platform Australian 56.7% fines were offered 115 and 59% fines were offered 125. There were no bids. In China SHFE rebar futures plummeted nearly 2% to levels not seen since October 2009. Spot rebar in northern China was down RMB 20-40/t (US$3-6/t). Billet also slipped. All prices US$/dmt CFR China unless otherwise stated, TSI report added.
No comments:
Post a Comment