IRON ORE DAILY: Seaborne market sputters after China's revision of steelmaking restrictions in Tangshan

Seaborne iron ore prices lost their recent upward momentum on Friday October 19 following an update on winter steelmaking restrictions in the Tangshan steelmaking hub in north China.

MB 62% Fe Iron Ore Index: $73.28 per tonne cfr Qingdao, down by $0.30 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.31 per tonne cfr Qingdao, down by $0.30 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $77.68 per tonne cfr Qingdao, down by $0.92 per tonne. MB 58% Fe Premium Index: $61.59 per tonne cfr Qingdao, down by $0.39 per tonne. MB 65% Fe Iron Ore Index: $96.70 per tonne cfr Qingdao, down by $0.50 per tonne. MB 62% Fe China Port Price Index: 556 yuan per wet metric tonne (implied 62% Fe China Port Price $70.90 per dry tonne), down by 5 yuan per wmt. Key drivers Local authorities in Tangshan released an updated list late on Thursday classifying mills in the city into four grades according to their emissions, which...

Published

July Zhang

Alex Theo

October 19, 2018

13:20 GMT

Singapore, Shanghai