IRON ORE DAILY: Market mixed over Australia port accident, yuan appreciation

Iron ore prices were mixed on Thursday January 10 following news of the Chinese yuan’s appreciation against the US dollar and reports of a port fire in Australia.

MB 62% Fe Iron Ore Index: $73.36 per tonne cfr Qingdao, down $0.54 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.50 per tonne cfr Qingdao, down $0.54 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.17 per tonne cfr Qingdao, down $0.51 per tonne. MB 58% Fe Premium Index: $66.01 per tonne cfr Qingdao, down $0.51 per tonne. MB 65% Fe Iron Ore Index: $87.70 per tonne cfr Qingdao, down $0.40 per tonne. MB 62% Fe China Port Price Index: 572 yuan per wet metric tonne (implied 62% Fe China Port Price $74.68 per dry tonne), down 2 yuan per wmt. Key drivers Some market participants said they expected to see support for higher iron ore prices after a fire early on Thursday morning at Rio Tinto’s Cape Lambert operations in Pilbara, Western Australia.   A company spokesman confirmed that emergency services had responded to the incident at Cape Lambert and that the fire had been safely brought...

Published

Deepali Sharma

July Zhang

Alex Theo

January 10, 2019

12:57 GMT

Shanghai, Singapore