IRON ORE DAILY: Seaborne prices surge on mill stockpiling

Seaborne iron ore prices went up on Friday January 18 with Chinese steel mills stockpiling material ahead of the upcoming Chinese new year holiday.

MB 62% Fe Iron Ore Index: $75.70 per tonne cfr Qingdao, up by $1.15 per tonne. MB 62% Fe Pilbara Blend Fines Index: $76.54 per tonne cfr Qingdao, up by $1.34 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $76.88 per tonne cfr Qingdao, up by $0.96 per tonne. MB 58% Fe Premium Index: $67.79 per tonne cfr Qingdao, up by $0.28 per tonne. MB 65% Fe Iron Ore Index: $89.30 per tonne cfr Qingdao, up by $1.20 per tonne. MB 62% Fe China Port Price Index: 566 yuan per wet metric tonne (implied 62% Fe China Port Price $73.97 per dry tonne), up by 1 yuan per wet metric tonne. MB 63% Fe Australian Lump Premium: $0.3850 per dry metric tonne unit, up by $0.015 per dry metric tonne unit. Key drivers A seaborne shipment of 61% Fe Pilbara Blend fines changed hands at a 62% Fe equivalent of $76.54 per tonne cfr China on Friday. This...

Published

July Zhang

Alex Theo

January 18, 2019

13:35 GMT

Singapore, Shanghai