IRON ORE DAILY: Prices rangebound amid thin trading

Physical iron ore prices were rangebound on Thursday May 17 amid a slowdown in trading activity.

Metal Bulletin 62% Fe Iron Ore Index: $67.49 per tonne cfr Qingdao, down by $0.54 per tonne Metal Bulletin 58% Fe Premium Index: $54.56 per tonne cfr Qingdao, unchanged Metal Bulletin 65% Fe Iron Ore Index: $86.40 per tonne cfr Qingdao, up by $0.20 per tonne Metal Bulletin 62% Fe China Port Price Index: 481 yuan per wet tonne (implied 62% Fe China Port Price $66.32 per dry tonne), up by 1 yuan per wet tonne Key drivers China’s rebar and iron ore futures fluctuated within a relatively narrow range during the day, which kept spot prices for the long steel product unchanged. Trading activity for iron ore fell at Chinese ports after large volumes changed hands on Wednesday. Prices were little changed as a result. While a miner’s tender for a seaborne cargo of Pilbara Blend fines was concluded at almost the same price...

Published

July Zhang

May 17, 2018

12:30 GMT

Singapore