IRON ORE DAILY: Prices mixed amid lackluster mill margins

Iron ore prices were mixed on Wednesday March 6, with still-sluggish profitability among Chinese steelmakers giving few clues as to the future direction of the market.

MB 62% Fe Iron Ore Index: $87.05 per tonne cfr Qingdao, up $0.02 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.45 per tonne cfr Qingdao, up $0.02 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.08 per tonne cfr Qingdao, down $0.12 per tonne. MB 58% Fe Premium Index: $76.03 per tonne cfr Qingdao, up $0.25 per tonne. MB 65% Fe Iron Ore Index: $98.30 per tonne cfr Qingdao, down $0.60 per tonne. MB 62% Fe China Port Price Index: 634 yuan per wet metric tonne (implied 62% Fe China Port Price $84.22 per dry tonne), down 2 yuan per wmt. Key drivers China’s steel and iron ore futures fluctuated earlier in the day before losses in the afternoon and a further retreat ahead of the 3pm close. The country’s spot rebar and hot-rolled coil prices also weakened...

Published

July Zhang

Alex Theo

March 06, 2019

13:47 GMT

Shanghai, Singapore