IRON ORE DAILY: Prices, premiums rise on BHP supply disruptions, China futures rebound

Seaborne iron ore prices and premiums advanced on Thursday November 8, on continuing concerns over Australian supplies and following a rebound in China’s futures market.

MB 62% Fe Iron Ore Index: $76.27 per tonne cfr Qingdao, up $1 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.30 per tonne cfr Qingdao, up $1 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $79.90 per tonne cfr Qingdao, up $1.52 per tonne. MB 58% Fe Premium Index: $67.12 per tonne cfr Qingdao, up by $0.30 per tonne. MB 65% Fe Iron Ore Index: $96.80 per tonne cfr Qingdao, unchanged. MB 62% Fe China Port Price Index: 592 yuan per wet metric tonne (implied 62% Fe China Port Price $75.82 per dry tonne), up by 1 yuan per wmt. Key drivers Fastmarkets understands that BHP expects to have partial rail operations in about a week’s time, after an iron ore train was derailed on Monday, with stockpiled iron ore reserves at Port Hedland being used over the coming days to maintain...

Published

July Zhang

November 08, 2018

12:57 GMT

Shanghai