IRON ORE DAILY: Shipment drop, mill profits boost high-grade Carajas fines

Brazilian iron ore fines traded at higher prices on Thursday April 11, especially for the 65% Fe Iron Ore Carajas (IOCJ), amid a drop in shipments from the country and a rise in steelmaking margins in China.

MB 62% Fe Iron Ore Index: $95.65 per tonne cfr Qingdao, up $1.04 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.77 per tonne cfr Qingdao, up $1.04 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $98 per tonne cfr Qingdao, up $1.43 per tonne. MB 58% Fe Premium Index: $85.29 per tonne cfr Qingdao, up $0.38 per tonne. MB 65% Fe Iron Ore Index: $107.50 per tonne cfr Qingdao, up $1.10 per tonne. MB 62% Fe China Port Price Index: 681 yuan per wet metric tonne (implied 62% Fe China Port Price $93 per dry tonne), up 1 yuan per wmt. Key drivers Vale’s Ponta da Madeira port in north Brazil, which ships its high-grade IOCJ fines, has suffered unusually heavy rains for about a month and experienced a drastic slowdown in loading and shipments, sources told Fastmarkets. The latest shipment data showed the...

Published

July Zhang

Alex Theo

April 11, 2019

14:10 GMT

Shanghai, Singapore