Global iron ore prices ended lower due to slow buying activity in the Chinese market.
Billet
Billet was being traded at 3,200 Yuan (USD 465/MT) including VAT in Tangshan, down 30 Yuan (USD 4.40/MT) from Thursday.
Rebar
Spot rebar prices in China were down on March 3 due to the bearish sentiment and a low trading activity today. Compared Week-on-week, rebar prices in east China are up 150 Yuan (USD 22/MT) while those in north China are 100 Yuan (USD 14.50/MT) higher.
Shanghai Futures Exchange
The most-traded May rebar futures contract closed at 3,566 Yuan (USD 518/MT) Friday, up 13 Yuan (USD 1.90/MT) from Thursday’s closing price.
Dalian Commodity Exchange
The most-traded May iron ore futures contract closed at 688 Yuan (USD 100/MT) on Friday, down 6.50 Yuan (USD 0.90/MT) Thursday’s closing price.
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