IRON ORE DAILY: Prices rise amid strengthening Chinese steel, futures markets

Physical iron ore prices rose on Thursday July 12 amid gains in China’s futures and steel markets.

Metal Bulletin 62% Fe Iron Ore Index: $64.06 per tonne cfr Qingdao, up $0.72 per tonne Metal Bulletin 62% Fe Pilbara Blend fines Index: $62.73 per tonne cfr Qingdao, up $0.57 per tonne Metal Bulletin 58% Fe Premium Index: $52.08 per tonne cfr Qingdao, up $0.32 per tonne Metal Bulletin 65% Fe Iron Ore Index: $91.50 per tonne cfr Qingdao, up $0.70 per tonne Metal Bulletin 62% Fe China Port Price Index: 470 yuan per wet metric tonne (implied 62% Fe China Port Price $61.79 per dry tonne), up 4 yuan per wmt Key drivers China’s ferrous futures advanced across the board during the day, with the benchmark iron ore and steel contracts ending 2.1-2.7% higher in comparison with their settlement prices a day earlier. The country’s spot rebar and hot-rolled coil prices also rose by 30-60 yuan ($4.50-9) per tonne during the...

Published

July Zhang

July 12, 2018

12:30 GMT

Shanghai