IRON ORE DAILY: Hesitance prevails among participants ahead of New Year

Chinese iron ore buyers continued to take caution on Friday December 28, the last trading day for most market participants in 2018.

MB 62% Fe Iron Ore Index: $72.73 per tonne cfr Qingdao, up $1.25 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.56 per tonne cfr Qingdao, up $1.25 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.12 per tonne cfr Qingdao, up $0.56 per tonne. MB 58% Fe Premium Index: $64.15 per tonne cfr Qingdao, up $0.16 per tonne. MB 65% Fe Iron Ore Index: $87.30 per tonne cfr Qingdao, up $0.30 per tonne. MB 62% Fe China Port Price Index: 555 yuan per wet metric tonne (implied 62% Fe China Port Price $71.48 per dry tonne), down 3 yuan per wmt. Key drivers China’s ferrous futures moved in a relatively narrow range during the day, while the 62% and 65% Fe derivatives on the Singapore Exchange moderately increased. The billet price in Tangshan, which is indicative of the sentiment in the country’s ferrous market, dropped 80 yuan ($11.60) per tonne...

Published

July Zhang

Alex Theo

December 28, 2018

12:30 GMT

Shanghai, Singapore