IRON ORE DAILY: Seaborne prices surge to $93 per tonne cfr

Physical iron ore prices shot up further above the $90-per-tonne-cfr mark on Wednesday April 3 amid bullish sentiment reflected in derivatives markets.

MB 62% Fe Iron Ore Index: $93.08 per tonne cfr Qingdao, up $3.19 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.20 per tonne cfr Qingdao, up $3.19 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $95.60 per tonne cfr Qingdao, up $3.46 per tonne. MB 58% Fe Premium Index: $82.56 per tonne cfr Qingdao, up $1.49 per tonne. MB 65% Fe Iron Ore Index: $104.80 per tonne cfr Qingdao, up $2.40 per tonne. MB 62% Fe China Port Price Index: 666 yuan per wet metric tonne (implied 62% Fe China Port Price $90.75 per dry tonne), up 15 yuan per wet metric tonne. Key drivers China’s iron ore futures extended their upward momentum to rise for a fourth consecutive trading day on Wednesday, with the most-liquid May contract even hitting the daily trading limit of 6% in the afternoon before easing slightly. The May contract price has...

Published

July Zhang

Alex Theo

April 03, 2019

14:42 GMT

Shanghai, Singapore