Chinese Iron Ore market activities slow ahead of the Lunar New Year holidays

Feb 05, 2016 13:47 GMT   Source:scrapregister

CHINA February 05 2016 4:05 PM     

SHANGHAI (Scrap Register): With  China now in serious wind-down mode ahead of the Lunar New Year holidays,  activity in the spot iron ore market was extremely limited, reported the Steel  Index.

The miners all posted offers on the China-based COREX trading  platform, however. 

Brazilian BRBF was offered on a 62% Fe basis at 47.4  on the screen, while 62% Fe MNP fines were offered at 45.8 – the same level as  was being asked for a cargo of 61% Fe PB Fines on the same screen. 

On  globalORE, 62% Fe MNP fines were offered at 45.5 for March arrival.

In  China, port stock prices were stable on very slow trade, while the key steel  products were also flat on Thursday. DCE iron ore futures were down 0.89% in the  morning; SHFE rebar slipped 0.54%. 

All prices US$/dmt CFR unless stated  otherwise.