A 10,000-tonne cargo from a Chinese steel mill in Shandong was heard sold at $655 per tonne cfr Singapore on a theoretical weight basis to a local steel fabricator.
Offers from traders for Chinese cargoes were at $655-665 per tonne cfr Singapore, while back-to-back cargoes were heard offered at $665-670 per tonne cfr Singapore.
“Given that Chinese prices are at around $645 per tonne fob, with freight costs of around $15-20 per tonne,...
