China Armco Metals: News Around the Industry

Seaborne Iron Ore TSI Slightly Up, Platts Flat

Source: SBB Daily Briefing Scrap & Raw Materials Edition - 2011-12-26


The spot reference price from The Steel Index for 62% Fe iron ore cfr north China continued upwards on Friday (23 December), gaining another $0.50 to reach $135.70/dry metric tonne.

The market was still active with transactions in fines, concentrates and lump. High grade Brazilian fines were traded at over $140/dmt cfr China, while cargoes of Australian 57-58% Fe fines were being concluded at levels similar to the previous day's index.

Sentiment remains cautious with many mills expecting some price weakness next week before buying again. The Shanghai Futures Exchange rebar contract strengthened RMB 20 and Tangshan billet was steady.

Platts’ 62%-Fe iron ore assessment cfr north China was flat on Friday with few bids and offers seen in the market, remaining at $137/dmt.

Steel Business Briefing is owned by Platts. TSI operates as an independent unit within the Platts group, compiling reference prices using its own methodology.