IRON ORE DAILY: Tangshan blast furnace idling jitters mix markets

The physical iron ore market stayed rangebound while steel prices rose on Tuesday July 10 amid more concerns over potential restrictions on blast furnaces in China’s steelmaking hub.

Metal Bulletin 62% Fe Iron Ore Index: $63.91 per tonne cfr Qingdao, down $0.01 per tonne Metal Bulletin 62% Fe Pilbara Blend fines Index: $62.82 per tonne cfr Qingdao, up $0.21 per tonne Metal Bulletin 58% Fe Premium Index: $51.80 per tonne cfr Qingdao, up $0.37 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91 per tonne cfr Qingdao, down $0.30 per tonne Metal Bulletin 62% Fe China Port Price Index: 466 yuan per wet metric tonne (implied 62% Fe China Port Price $61.49 per dry tonne), down 2 yuan per wmt Key drivers Talks started on Monday about more potential restrictions to be carried out on steelmaking operations in northern China’s Tangshan city to further cut emissions, and a draft plan was circulated among market participants on Tuesday. The planned measures include a 50% cut of sintering and pellet production...

Published

July Zhang

July 10, 2018

13:40 GMT

Shanghai