IRON ORE DAILY: Seaborne prices rise further, high grades do best

Seaborne iron ore prices continued to rise on Friday April 12, with high-grade materials such as Iron Ore Carajas (IOCJ) continuing to outperform other grades.

MB 62% Fe Iron Ore Index: $96.47 per tonne cfr Qingdao, up by $0.82 per tonne. MB 62% Fe Pilbara Blend Fines Index: $95.74 per tonne cfr Qingdao, up by $0.97 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $98.32 per tonne cfr Qingdao, up by $0.32 per tonne. MB 58% Fe Premium Index: $85.63 per tonne cfr Qingdao, up by $0.34 per tonne. MB 65% Fe Iron Ore Index: $109.70 per tonne cfr Qingdao, up by $2.20 per tonne. MB 62% Fe China Port Price Index: 683 yuan per wet metric tonne (implied 62% Fe China Port Price $93.21 per dry tonne), up by 2 yuan per wmt. Key drivers A Capesize cargo of Pilbara Blend (PB) fines traded via a miner’s tender on Friday at a fixed price around $1.00-1.50 per tonne higher than market participants’ estimated levels a day earlier, while two Capesize shipments of IOCJ fines were...

Published

July Zhang

Alex Theo

April 12, 2019

14:30 GMT

Shanghai, Singapore