DCE hits almost one year high on better market outlook

Chinese futures rallied throughout the week and reached almost a one-year high, upon market optimism. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, rose by RMB 8 or 1.02% day-on-day to RMB 789 per tonne, a 11-month high on Thursday. Likewise, the steel rebar contract on the Shanghai …

Steel and Scrap Update 8/7/20

*Physical scrap fixtures continue to be rangebound* A handful of physical fixtures have been reported over the past week, with traded levels holding relatively steady at around $255/t CFR. The most recent fixture was a UK based seller transacting a 15kT cargo, split across 14kT HMS 80:20 at $253/t and 1kT shredded scrap at $258/t …