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Iron ore at seven months low, scrap stable

Iron ore at seven months low, scrap stable (May 30, 2017)

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Last week the Kallanish iron ore index reached a seven-months low at $58.24/tonne CFR Qindgdao; the correction came as Chinese rebar and HRC prices moved up during the week, indicating that mills have manged to increase somewhat their marginality. While the lower iron price is set to force the market to move down somewhat its finished steel levels, the outlook is for a gentle correction as mills in China are enjoying a better than anticipated market. 

Latest prices

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HRC / China FOB USD/t -1.0%
Rebar in Coil / Shanghai FOT CNY/t -3.0%
Rebar / China FOT Warehouse CNY/t -2.0%
Cold Rolled Sheet / China FOT Warehouse CNY/t -1.0%
Rebar / Turkey FOB USD/t -0.0%
HDG / N Europe Ex-Works EUR/t 1.0%
HRC / Vietnam CFR USD/t -2.0%
CRC / N Europe Ex-Works EUR/t -1.0%
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More Global Prices

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E40 Shredded Scrap / Spain Delivered Basis EUR/t 0.0%
Angle Bar / Turkey FOB USD/t -1.0%
Wire Rod / Turkey FOB USD/t -1.0%
E8 Light New Scrap / Spain Delivered Basis EUR/t 0.0%
Rebar / N Europe Ex-Works EUR/t -2.0%
Shredded Scrap / Turkey / CFR USD/t -1.0%
HDG / China FOT CNY/t -0.0%
HRC / China FOT Warehouse CNY/t -2.0%
HRC / Spain Ex-Works EUR/t -4.0%
E3 Demolition Scrap / Spain Delivered Basis EUR/t 0.0%
Billet / Tangshan Ex-Works CNY/t -1.0%
KORE 62% Fe / Qingdao CFR USD/t -3.23%
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