IRON ORE DAILY: Prices weaken amid volatile futures

Physical iron ore prices fell on Friday March 15 amid volatility in China’s futures markets.

MB 62% Fe Iron Ore Index: $86.52 per tonne cfr Qingdao, down $0.74 per tonne. MB 62% Fe Pilbara Blend Fines Index: $85.64 per tonne cfr Qingdao, down $0.74 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.03 per tonne cfr Qingdao, down $0.47 per tonne. MB 58% Fe Premium Index: $77.38 per tonne cfr Qingdao, down $0.49 per tonne. MB 65% Fe Iron Ore Index: $97.50 per tonne cfr Qingdao, down $0.70 per tonne. MB 62% Fe China Port Price Index: 633 yuan per wet metric tonne (implied 62% Fe China Port Price $83.83 per dry tonne), down 4 yuan per wet metric tonne. Key drivers China’s ferrous futures largely trended down on Friday, but before the 3pm close, a pick-up was recorded, especially for iron ore. The benchmark iron ore contract ended the day 1.5% higher than Thursday’s settlement. The advance came too late to activate spot iron ore trading and...

Published

July Zhang

Alex Theo

March 15, 2019

12:29 GMT

Shanghai, Singapore