IRON ORE DAILY: High-grade derivative continues to generate interest

Seaborne iron ore prices rose on Wednesday December 5 on an uptick in the iron ore futures contract.

MB 62% Fe Iron Ore Index: $67.38 per tonne cfr Qingdao, up by $0.22 per tonne. MB 62% Fe Pilbara Blend Fines Index: $66.65 per tonne cfr Qingdao, up by $0.22 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $71.21 per tonne cfr Qingdao, down by $0.19 per tonne. MB 58% Fe Premium Index: $61.85 per tonne cfr Qingdao, up by $2.25 per tonne. MB 65% Fe Iron Ore Index: $83.40 per tonne cfr Qingdao, up by $0.40 per tonne. MB 62% Fe China Port Price Index: 538 yuan per wet metric tonne (implied 62% Fe China Port Price $69.27 per dry tonne), down by 2 yuan per wmt. Key drivers China’s ferrous futures strengthened at the close of the afternoon trading session on Wednesday. Transaction prices for spot cargoes of iron ore at Chinese ports were largely stable, while the value of the US dollar against the Chinese yuan held fairly steady at 6.847 yuan to...

Published

Alex Theo

December 05, 2018

13:37 GMT

Alex Theo