IRON ORE DAILY: Quiet market reverses previous day’s bullishness in seaborne prices

Seaborne iron ore prices fell across the board on Tuesday February 12 amid thin trading activity in the physical cargoes market, while low-grade iron ore was rangebound.

MB 62% Fe Iron Ore Index: $87.65 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Pilbara Blend Fines Index: $88.49 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.08 per tonne cfr Qingdao, down $3.42 per tonne. MB 58% Fe Premium Index: $81.88 per tonne cfr Qingdao, up $0.50 per tonne. MB 65% Fe Iron Ore Index: $100.50 per tonne cfr Qingdao, down $2 per tonne. MB 62% Fe China Port Price Index: 688 yuan per wet metric tonne (implied 62% Fe China Port Price $90.72 per dry tonne), up 2 yuan per wet metric tonne. Key drivers Trading activity remained thin on Tuesday, translating to easing iron ore prices after Monday’s surge. Prices have cooled off because most market players believe the price surge the previous day was more...

Published

Alex Theo

February 12, 2019

11:39 GMT

Singapore