io price, page-6

A semblance of stability returned today after yesterday’s carnage. Though SHFE rebar futures dipped again, they did so by a smaller amount, while DCE iron ore futures recovered a little lost ground on the most active contract. Some buying interest was seen for spot iron ore, and a small number of
transactions took place at slightly better levels. An Australian miner sold 62% Fe “MNP” fines for early-April delivery across globalORE at 106, as well as 58% Fe fins through the CBMX platform at 97. A Brazilian miner sold a cargo of high-grade 64.5% Fe fines on an index-linked basis with a slightly
improved premium compared with a similar deal late last week. At Chinese ports, traders slashed offers for their stockpiles of imported ore, prompting in an uptick in sales. Steel prices were still soft, however: spot billet dropped another RMB 30/t and rebar lost RMB 10/t. All prices US$/dmt CFR China.