Global iron ore prices stand corrected at USD 82/MT on 13 Dec’16. Prices remained almost flat after a gain of USD 3/MT yesterday.
Iron ore spot transactions were fewer and lower in prices today after yesterday’s sharp increase.
Chinese ferrous future also moved down amid high crude output news. Dalian Commodity Exchange was at Yuan 632 (USD 9/MT), down by USD 0.87/MT.
Physical market was largely inactive as the buyers were in wait-an-watch mode due to fluctuating futures. Meanwhile, steelmakers are making decent profit margins these days.
Spot billet prices (Ex-Tangshan) also fell by Yuan 50 (USD 7/MT). In addition, spot rebar and HRC prices also moved down.
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