IRON ORE DAILY: Prices still rangebound, market awaits full impact of cyclone on Australian output

Physical iron ore prices stayed rangebound for a second day on Tuesday March 26 as market participants waited on news of the full impact of Cyclone Veronica on Australian iron ore operations.

MB 62% Fe Iron Ore Index: $85.23 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.35 per tonne cfr Qingdao, down $0.58 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87.31 per tonne cfr Qingdao, down $0.09 per tonne. MB 58% Fe Premium Index: $77.22 per tonne cfr Qingdao, up $0.37 per tonne. MB 65% Fe Iron Ore Index: $96.40 per tonne cfr Qingdao, unchanged. MB 62% Fe China Port Price Index: 624 yuan per wet metric tonne (implied 62% Fe China Port Price $82.73 per dry tonne), down 1 yuan per wmt. Key drivers Australia’s Pilbara Port Authority (PPA) said on Tuesday afternoon that there had been no significant damage caused by cyclone Veronica at any of the ports and that operations will return to normal over the next 24 hours. The Port of Port Hedland reopened on...

Published

July Zhang

Alex Theo

March 26, 2019

13:06 GMT

Shanghai, Singapore