IRON ORE DAILY: Seaborne prices rise to multi-year highs on firm demand

Seaborne iron ore prices jumped again on Friday May 10 to historical highs amid robust demand in China and concerns over tightness of supply, mainly from Brazil.

MB 62% Fe Iron Ore Index: $97.24 per tonne cfr Qingdao, up by $1.86 per tonne. MB 62% Fe Pilbara Blend Fines Index: $95.92 per tonne cfr Qingdao, up by $1.86 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $100.50 per tonne cfr Qingdao, up by $2.27 per tonne. MB 58% Fe Premium Index: $86.60 per tonne cfr Qingdao, up by $0.10 per tonne. MB 65% Fe Iron Ore Index: $111.50 per tonne cfr Qingdao, up by $1.70 per tonne. MB 62% Fe China Port Price Index: 684 yuan per wet metric tonne (implied 62% Fe China Port Price $91.97 per dry tonne), up by 2 yuan per wmt. Key drivers China’s iron ore and steel futures all went up on Friday amid signs of an easing in trade tensions, as well as data showing that blast furnace operation rates remained high in China while iron ore...

Published

July Zhang

Alex Theo

May 10, 2019

14:00 GMT

Singapore