Global iron ore prices have been reduced by up to $2/MT amid the seemingly general fluctuations in the commodity trading and can be attributed to the incalculable reasons.
The Chinese ferrous futures market first rose and then fallen sharply before close. The DCE iron ore futures contract was down 2.42%, while SHFE rebar went down 0.91%.
Spot iron ore prices lost some support. In China, port stock prices lost around RMB 5-10/wmt. Spot billet prices in Tangshan gained RMB 20/t. Spot rebar prices in Beijing were flat.
Billet prices move up in China
Offer prices for billet in China’s Tangshan market spiked by 180 Yuan ($26.20) per tonne over the weekend to 3,100 Yuan ($451) per tonne including VAT.
China’s spot rebar prices flat amid inactivity
China’s spot rebar prices were unchanged on Thursday February 16 amid thin trading.
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