China’s steel and iron ore futures largely stayed range-bound during the day, moving upwards earlier and downwards later.
The spot steel markets were mixed in the country, with rebar falling 20-50 yuan ($3-7) per tonne while hot rolled coil gained 10-40 yuan ($1.50-6) per tonne.
Seaborne iron ore offers continued to face cold reception. Fixed price offers for 62% Fe Australian fines were cut to $65-66 per tonne cfr, while premiums for index-linked cargoes fell further.
A May-arrival shipment of Pilbara Blend fines reportedly changed hands at the May average of a 62% Fe index plus a premium of $1.70 per tonne in the spot market.
However, April-arrival cargoes of such product was...