Tangshan spot billet prices rise RMB 30 a ton

Chinese futures market rebounded slightly on Friday after heavy losses earlier this week. The most active DCE iron ore futures contract rose 0.49% and SHFE rebar futures went up 0.21%. 


An Australian miner sold 62% Fe basis PB fines on globalORE on a floating price. On COREX, 61.35% Fe Brazilian fines also traded at a floating price. 


On the same platform, 61% Fe basis PB fines were offered at 57.55, with bid price at 56.35. On globalORE, PB Fines basis 62% Fe stood at 55.9/58.5 for October arrival. After index cutoff, 61.83% Fe Brazilian fines were sold by a miner on an index-linked price. 


In China, port stock prices were stable before the weekend. Steel prices rose, with spot billet prices in Tangshan gaining RMB 30/t and rebar in Beijing rising RMB 20/t. 


All prices US$/dmt CFR China unless stated otherwise.