Beijing Spot Rebar prices rise by RMB 15 a ton

Spot market transactions saw limited activity on Friday morning, with New year holidays encouraging most Western companies to only work a half day. 

An Australian miner held a 61% Fe PB fines tender this morning, with the closing price slightly higher than 43.7. Another Australian miner sold 62.7% Fe basis fines via private negotiations at a price just a little shy of 44. 

On COREX, 61% PBF was done at 42.1 between traders. In China, the futures market continued the upward movement in the morning, the most active DCE iron ore jumped 2.45% and SHFE rebar gained 0.45%. 

Spot billet prices in Tangshan were flat on Friday morning. Spot rebar in Beijing rose RMB 15 a ton. Port stock prices were stable. 

All prices US$/dmt CFR unless stated otherwise.
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