IRON ORE DAILY: Lower port prices dampen seaborne buying activity

Trading activity in the seaborne iron ore market remained lackluster on Friday August 10 due to a wide gap between its prices in comparison with those charged for materials at Chinese ports.

Metal Bulletin 62% Fe Iron Ore Index: $68.71 per tonne cfr Qingdao, down by $1.07 per tonne. Metal Bulletin 62% Fe Pilbara Blend Fines Index: $68.69 per tonne cfr Qingdao, down by $0.61 per tonne. Metal Bulletin 58% Fe Premium Index: $57.04 per tonne cfr Qingdao, down by $0.30 per tonne. Metal Bulletin 65% Fe Iron Ore Index: $95.60 per tonne cfr Qingdao, down by $1.10 per tonne. Metal Bulletin 62% Fe China Port Price Index: 509 yuan per wet metric tonne (implied 62% Fe China Port Price $65.38 per dry tonne), down by 1 yuan per wmt. Key drivers A miner’s tender for a seaborne cargo of Pilbara Blend fines was concluded $0.60 per tonne lower than how much it fetched on Wednesday, while two cargoes of Brazilian Blend fines also changed hands at prices below those achieved earlier this week. An index-linked...

Published

July Zhang

August 10, 2018

12:23 GMT

Shanghai