June 17
The iron ore physical market remained quiet during the 3-day Chinese holiday. As a result, TSI and Platts stayed unchanged, printing at $143.1 and $143 yesterday.
The Shanghai rebar future opened in positive territory this morning, up by 0.56% for the Oct contract, despite physical steel continuing to soften after the holiday. It’s said the inventory stays at a relatively high level of around 8.4 million tons and the purchasing volume from end users last week is only 60% of last year.
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