Premium evaporates on April-index-linked 62% Fe iron ore

Mainstream 62% Fe Australian fines were offered with no premium or even at discount against April average indices on Thursday April 13, as weakness persisted in the seaborne iron ore market.

Key drivers 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...

Published

July Zhang

April 13, 2017

11:49 GMT

Shanghai