IRON ORE DAILY: Seaborne prices weaken amid steel dip, dollar appreciation

Seaborne iron ore prices softened on Monday May 13 amid weaker steel markets and an appreciation of the United States dollar against the Chinese yuan.

MB 62% Fe Iron Ore Index: $96.10 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.78 per tonne cfr Qingdao, down $1.14 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $99.92 per tonne cfr Qingdao, down $0.58 per tonne. MB 58% Fe Premium Index: $86.61 per tonne cfr Qingdao, up $0.01 per tonne. MB 65% Fe Iron Ore Index: $111.40 per tonne cfr Qingdao, down $0.10 per tonne. MB 62% Fe China Port Price Index: 686 yuan per wet metric tonne (implied 62% Fe China Port Price $92.23 per dry tonne), up 2 yuan per wet metric tonne. Key drivers China’s rebar and hot-rolled coil futures prices retreated at the start of the week, while domestic spot market prices fell by 10-20 yuan ($1.50-2.90) per tonne. Seaborne iron ore trading was not very active over the day, with no transaction confirmed as of 6.15pm Singapore time. Some...

Published

July Zhang

Alex Theo

May 13, 2019

12:55 GMT

Shanghai, Singapore