IRON ORE DAILY: Prices strengthen amid steel, futures gains

Physical iron ore prices rebounded on Monday April 22 amid gains in the steel and futures markets, after declining over consecutive days last week.

MB 62% Fe Iron Ore Index: $94.48 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.26 per tonne cfr Qingdao, up $2.39 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.75 per tonne cfr Qingdao, up $2.73 per tonne. MB 58% Fe Premium Index: $84.53 per tonne cfr Qingdao, up $1.87 per tonne. MB 65% Fe Iron Ore Index: $107.80 per tonne cfr Qingdao, up $1.80 per tonne. MB 62% Fe China Port Price Index: 680 yuan per wet metric tonne (implied 62% Fe China Port Price $92.92 per dry tonne), up 9 yuan per wmt. Key drivers China’s steel and iron ore futures all advanced during last Friday’s night trading session and stayed rangebound for most of Monday, apart from a spike between 2pm and 3pm that was followed by...

Published

July Zhang

Alex Theo

April 22, 2019

12:52 GMT

Shanghai, Singapore