IRON ORE DAILY: Seaborne prices rebound to $65 per tonne cfr

Seaborne iron ore prices rebounded on Friday April 13 to the $65-per-tonne-cfr mark amid gains in China steel and futures markets.

Metal Bulletin 62% Fe Iron Ore Index: $64.96 per tonne cfr Qingdao, up by $0.49 per tonne Metal Bulletin 58% Fe Premium Index: $52.37 per tonne cfr Qingdao, up by $0.11 per tonne Metal Bulletin 65% Fe Iron Ore Index: $82.20 per tonne cfr Qingdao, up by $0.50 per tonne Metal Bulletin 62% Fe China Port Price Index: 461 yuan per wet tonne (implied 62% Fe China Port Price $63.71 per dry tonne), unchanged Key drivers China’s ferrous futures advanced across the board, with the benchmark iron ore and steel contracts rising 1.2-1.6% in comparison with their settlement prices a day earlier. The country’s spot rebar and hot-rolled coil prices also increased 10-30 yuan ($1.60-4.80) per tonne during the day. A miner’s tender for Pilbara Blend fines was concluded at a 62% Fe equivalent price of about $65 per...

Published

July Zhang

April 13, 2018

12:15 GMT

Shanghai