IRON ORE DAILY: FMG narrows discounts, low grades continue to shine

Prices for 62% Fe iron ore were largely rangebound on Tuesday January 15, while those for lower grades rose further.

MB 62% Fe Iron Ore Index: $73.78 per tonne cfr Qingdao, down $0.02 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.92 per tonne cfr Qingdao, down $0.02 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.50 per tonne cfr Qingdao, unchanged. MB 58% Fe Premium Index: $65.59 per tonne cfr Qingdao, down $1.24 per tonne. MB 58% Fe Iron Ore Index: $49.59 per tonne cfr Qingdao, up $1.26 per tonne. MB 65% Fe Iron Ore Index: $88 per tonne cfr Qingdao, down $0.20 per tonne. MB 62% Fe China Port Price Index: 569 yuan per wet metric tonne (implied 62% Fe China Port Price $74.57 per dry tonne), down 3 yuan per wet metric tonne. Key drivers Fortescue Metals Group is narrowing the downward price adjustment for February shipments of its 56.5% Fe Super Special fines and 58.2% Fe Fortescue Blend fines to 33% and 22% respectively based on a...

Published

July Zhang

Alex Theo

January 15, 2019

12:00 GMT

Shanghai, Singapore