IRON ORE DAILY: Market rangebound amid rumors of an end to steel output restrictions in China

Physical iron ore prices were rangebound on Tuesday September 11 amid rumors, and subsequent denials, that China would be easing the production restrictions currently imposed on steelmakers.

Metal Bulletin 62% Fe Iron Ore Index: $67.67 per tonne cfr Qingdao, down by $0.14 per tonne. Metal Bulletin 62% Fe Pilbara Blend Fines Index: $66.70 per tonne cfr Qingdao, down by $0.14 per tonne. Metal Bulletin 62% Fe Iron Ore Index Low Alumina: $73.92 per tonne cfr Qingdao, down by $0.70 per tonne. Metal Bulletin 58% Fe Premium Index: $55.78 per tonne cfr Qingdao, down $0.21 per tonne. Metal Bulletin 65% Fe Iron Ore Index: $96 per tonne cfr Qingdao, down $0.40 per tonne. Metal Bulletin 62% Fe China Port Price Index: 511 yuan per wet metric tonne (implied 62% Fe China Port Price $65.46 per dry tonne), down by 4 yuan per wmt. Key drivers Word spread in the market during the day that China’s environment authorities would ease the air-quality improvement targets and remove the caps of 50% or 70% on steelmaker production rates....

Published

July Zhang

September 11, 2018

14:06 GMT

Shanghai