IRON ORE DAILY: Prices surge on buyer bullishness, lump premium up

Iron ore prices continued to take significant upward steps on Friday March 1 amid increased optimism, represented by rising futures and steel prices, while the lump premium also picked up.

Fastmarkets MB 62% Fe Iron Ore Index: $87.92 per tonne cfr Qingdao, up by $2.63 per tonne. Fastmarkets MB 62% Fe Pilbara Blend Fines Index: $87.32 per tonne cfr Qingdao, up by $2.63 per tonne. Fastmarkets MB 62% Fe Iron Ore Index-Low Alumina: $90.10 per tonne cfr Qingdao, up by $3.13 per tonne. Fastmarkets MB 58% Fe Premium Index: $77.85 per tonne cfr Qingdao, up by $1.88 per tonne. Fastmarkets MB 65% Fe Iron Ore Index: $98.10 per tonne cfr Qingdao, up by $2.70 per tonne. Fastmarkets MB 62% Fe China Port Price Index: 638 yuan per wet metric tonne (implied 62% Fe China Port Price $84.96 per dry tonne), up by 6 yuan per wmt. Fastmarkets MB 63% Fe Australian Lump Premium: $0.3700 per dry metric tonne unit, up by $0.0400 per dmtu. Key drivers China’s ferrous futures soared across the board on Friday afternoon, with the benchmark iron ore contract leading the gains and ending 3.7%...

Published

July Zhang

Alex Theo

March 01, 2019

13:35 GMT

Shanghai, Singapore