Mysteel: Raw Material Market Highlight (March 6—10)
Generally, tractions were not active. The spread of bids and offers widened for the forward price. The transaction on platforms were negative. For the spot price, ongoing fall at the ports, taking Rizhao port as an example, PB fines price dropped about 15-20 yuan/ton.
Uptrend in seaborne coal seen to be snapped
Newest BSPI (Bohai-Rim Steam-Coal Price Index), which tracks thermal coal prices at six ports, came in at 593 yuan/tonne, 4 yuan/tonne higher than the previous week, showing sustained growth momentum.