IRON ORE DAILY: Prices rebound amid futures gains, BHP maintenance news

Seaborne iron ore prices picked up on Wednesday May 15 following gains in China’s futures market, and amid concerns that BHP’s mine maintenance could affect supply at a later date.

MB 62% Fe Iron Ore Index: $96.95 per tonne cfr Qingdao, up by $2.61 per tonne. MB 62% Fe Pilbara Blend Fines Index: $95.63 per tonne cfr Qingdao, up by $2.61 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $98.53 per tonne cfr Qingdao, up by $0.97 per tonne. MB 58% Fe Premium Index: $85.64 per tonne cfr Qingdao, down by $0.36 per tonne. MB 65% Fe Iron Ore Index: $112.10 per tonne cfr Qingdao, up by $2.70 per tonne. MB 62% Fe China Port Price Index: 686 yuan per wet metric tonne (implied 62% Fe China Port Price $91.57 per dry tonne), up by 4 yuan per wmt. Key drivers Australian miner BHP has told its customers that it will conduct equipment maintenance in the first half of July, which will probably delay shipments of its 62.4% Fe Newman fines, according to sources. Some market participants told Fastmarkets late last month about the overhauls affecting Newman...

Published

July Zhang

Alex Theo

May 15, 2019

13:25 GMT

Shanghai, Singapore