IRON ORE DAILY: Prices jump after steel inventory drop, restriction relief

Iron ore prices jumped on Thursday March 14 amid a positive destocking of steel products in China and signs of loosening restrictions on steelmaking operations.

MB 62% Fe Iron Ore Index: $87.26 per tonne cfr Qingdao, up $2.48 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.38 per tonne cfr Qingdao, up $2.48 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.50 per tonne cfr Qingdao, up $2.80 per tonne. MB 58% Fe Premium Index: $77.87 per tonne cfr Qingdao, up $2.88 per tonne. MB 65% Fe Iron Ore Index: $98.20 per tonne cfr Qingdao, up $2.10 per tonne. MB 62% Fe China Port Price Index: 637 yuan per wet metric tonne (implied 62% Fe China Port Price $84.56 per dry tonne), up 7 yuan per wmt. MB 63% Fe Australian Lump Premium: 37 cents per dry metric tonne unit, down 1 cent per dmtu. Key drivers A set of data published by a Chinese data provider on Thursday afternoon largely showed declines in the domestic mill and market stocks of finished steel products, which...

Published

July Zhang

Alex Theo

March 14, 2019

12:40 GMT

Shanghai, Singapore