10-10-2016

Iron Ore Market Remain Quiet on Chinese Golden Week Holiday

Iron ore

As expected, Iron ore market was quiet on the final day of the Chinese Golden Week holiday. There was however sporadic bid and offer activity on the globalORE trading platform.

Australian Jimblebar Fines with an October Laycan were offered at 53.25 without attracting any bids. Index-linked bids against the TSI 62% Fe index were made for Brazilian IOCJ and BRBF fines.

62% Fe Jimblebar Fines were offered at a discount of 1.2 to the TSI October average, though without bid.

China officially returns to work tomorrow, though typically there is likely to be limited activity until Monday.

All prices US$/dmt CFR China unless stated otherwise.

Source: Scrap Register

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