IRON ORE DAILY: Prices correct after surging in lead-up to China holiday

Physical iron ore prices were range-bound on Thursday April 4 after spikes earlier in the week, with China entering a long weekend from Friday to Sunday for the Tomb Sweeping Festival.

MB 62% Fe Iron Ore Index: $92.90 per tonne cfr Qingdao, down by $0.18 per tonne. MB 62% Fe Pilbara Blend Fines Index: $92.02 per tonne cfr Qingdao, down by $0.18 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $95.53 per tonne cfr Qingdao, down by $0.07 per tonne. MB 58% Fe Premium Index: $82.84 per tonne cfr Qingdao, up by $0.28 per tonne. MB 65% Fe Iron Ore Index: $105 per tonne cfr Qingdao, up by $0.20 per tonne. MB 62% Fe China Port Price Index: 667 yuan per wet metric tonne (implied 62% Fe China Port Price, $91 per dry tonne), up by 1 yuan per wmt. Key drivers China’s iron ore and steel futures have shown corrections since Wednesday night, after gaining for four trading days in a row. The May iron ore contract, which remained the most-traded on Thursday, ended 1.1% higher than Wednesday’s settlement, while...

Published

July Zhang

Alex Theo

April 04, 2019

13:40 GMT

Shanghai, Singapore