IRON ORE DAILY: Prices jump above $95 per tonne cfr on futures spike

Physical iron ore prices increased further on Monday April 8, with Fastmarkets' MB 62% Fe Iron Ore Index jumping above $95 per tonne cfr China following surges in the derivatives markets.

MB 62% Fe Iron Ore Index: $95.30 per tonne cfr Qingdao, up $2.40 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.42 per tonne cfr Qingdao, up 2.40 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $97.60 per tonne cfr Qingdao, up $2.07 per tonne. MB 58% Fe Premium Index: $85.21 per tonne cfr Qingdao, up $2.37 per tonne. MB 65% Fe Iron Ore Index: $106.30 per tonne cfr Qingdao, up $1.30 per tonne. MB 62% Fe China Port Price Index: 684 yuan per wet metric tonne (implied 62% Fe China Port Price $93.28 per dry tonne), up 17 yuan per wmt. Key drivers China’s ferrous futures advanced across the board in the first trading day after a three-day break...

Published

July Zhang

Alex Theo

April 08, 2019

13:54 GMT

Shanghai, Singapore