IRON ORE DAILY: Vale dam incident in Brazil pushes up prices

Iron ore prices shot up across the board on Monday January 28 amid market expectations of supply disruptions following a tailings dam failure at Vale’s Córrego do Feijão mine in Brazil.

MB 62% Fe Iron Ore Index: $78.18 per tonne cfr Qingdao, up $3.49 per tonne. MB 62% Fe Pilbara Blend Fines Index: $79.02 per tonne cfr Qingdao, up $3.49 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $79.81 per tonne cfr Qingdao, up $3.59 per tonne. MB 58% Fe Premium Index: $70.83 per tonne cfr Qingdao, up $4.47 per tonne. MB 65% Fe Iron Ore Index: $91.60 per tonne cfr Qingdao, up $2.50 per tonne. MB 62% Fe China Port Price Index: 585 yuan per wet metric tonne (implied 62% Fe China Port Price $77.04 per dry tonne), up 18 yuan per wet metric tonne. Key drivers Last Friday's tailings dam failure at Vale's Córrego do Feijão mine near Brumadinho city in Minas Gerais state in south-east Brazil, has so far led to 58 deaths with 300 people still missing, as well as damaging facilities and loading terminals, according to reports. The Feijão mine is part of the Paraopebas...

Published

July Zhang

Alex Theo

January 28, 2019

13:46 GMT

Shanghai, Singapore