IRON ORE DAILY: Pilbara Blend fines only real bright spot in lackluster market

Physical iron ore buying was lackluster on Thursday January 17, despite fixed-price seaborne cargoes of Pilbara Blend fines trading at higher prices.

MB 62% Fe Iron Ore Index: $74.55 per tonne cfr Qingdao, up $0.24 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.20 per tonne cfr Qingdao, up $0.75 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.92 per tonne cfr Qingdao, down $0.13 per tonne. MB 58% Fe Premium Index: $67.51 per tonne cfr Qingdao, up $1.77 per tonne. MB 65% Fe Iron Ore Index: $88.10 per tonne cfr Qingdao, unchanged. MB 62% Fe China Port Price Index: 565 yuan per wet metric tonne (implied 62% Fe China Port Price $73.92 per dry tonne), down 1 yuan per wet metric tonne. Key drivers A seaborne shipment of 62% Fe Pilbara Blend fines changed hands at $75.05 per tonne cfr China late on Wednesday, and a second such cargo traded higher at a 62% Fe equivalent of $75.38 per tonne cfr on Thursday. The last fixed-price transaction of the brand...

Published

July Zhang

Alex Theo

January 17, 2019

12:23 GMT

Shanghai, Singapore