The beginning of the week saw a minimized activity in Chinese market today. Iron ore prices were down at USD 91/MT on Monday. The higher port inventories were cited the reason for the price change in general.
Billet
Billet was traded at 3,310 Yuan (USD 480/MT) including VAT. The price had fallen by 30 Yuan (USD 4.60/MT) late on Friday before rising 50 Yuan (USD 7.30/MT) over the weekend. On Monday morning, it rose a10 Yuan more (USD 1.50/MT).
Dalian Commodity Exchange
Closed at 711.50 Yuan (USD 103/MT)
Change from previous close: down 4 Yuan (USD 0.60/MT)
Shanghai Futures Exchange
The rebar futures contract closed at 3,334 Yuan (USD 483/MT) on Monday, down 35 Yuan (USD 5.10/MT) from last Friday’s closing price.
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