IRON ORE DAILY: Prices rebound on gains in futures trading

Physical iron ore prices rose on Thursday February 28 after being soft for a week, in line with gains in the futures and swaps markets.

Fastmarkets MB 62% Fe Iron Ore Index: $85.29 per tonne cfr Qingdao, up by $1.75 per tonne. Fastmarkets MB 62% Fe Pilbara Blend Fines Index: $84.69 per tonne cfr Qingdao, up by $1.75 per tonne. Fastmarkets MB 62% Fe Iron Ore Index-Low Alumina: $86.97 per tonne cfr Qingdao, up by $1.17 per tonne. Fastmarkets MB 58% Fe Premium Index: $75.97 per tonne cfr Qingdao, up by $0.09 per tonne. Fastmarkets MB 65% Fe Iron Ore Index: $95.40 per tonne cfr Qingdao, up by $0.50 per tonne. Fastmarkets MB 62% Fe China Port Price Index: 632 yuan per wet metric tonne (implied 62% Fe China Port Price $84.05 per dry tonne), up by 7 yuan per wmt. Key drivers China’s ferrous futures all advanced in trading on Thursday afternoon, following weakness earlier in the day. The benchmark May iron ore contract rose by 2% from the previous day’s...

Published

July Zhang

Alex Theo

February 28, 2019

12:52 GMT

Shanghai, Singapore