Seaborne iron ore market inactive but premiums hold steady

Trading activity dipped in the seaborne iron ore market on Thursday December 14 after rebar prices retreated, though premiums for index-linked cargoes of Pilbara Blend fines remained stable.

Key drivers Rebar prices in east China fell 20-50 yuan ($3-7.50) per tonne during the day to 4,780-4,830 yuan per tonne. A January-delivery Capesize cargo of Pilbara Blend fines was heard offered at the January average of a 62% Fe index at a premium of $2.50 per tonne. Bids for this cargo was heard at $2-2.10 per tonne. Some market participants are expecting reduced shipments from Australian miners in January. As such, a number of them, especially mills,...

Published

Metal Bulletin Editorial

December 14, 2017

10:29 GMT

Shanghai