IRON ORE DAILY: Prices surge toward $100 per tonne on strong sentiment

Seaborne iron ore prices jumped closer to the $100-per-tonne-cfr mark while setting a five-year high on Thursday May 16 amid bullish market sentiment.

MB 62% Fe Iron Ore Index: $99.21 per tonne cfr Qingdao, up by $2.26 per tonne. MB 62% Fe Pilbara Blend Fines Index: $97.40 per tonne cfr Qingdao, up by $1.77 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $102.80 per tonne cfr Qingdao, up by $4.27 per tonne. MB 58% Fe Premium Index: $89.10 per tonne cfr Qingdao, up by $3.46 per tonne. MB 65% Fe Iron Ore Index: $113.50 per tonne cfr Qingdao, up by $1.40 per tonne. MB 62% Fe China Port Price Index: 697 yuan per wet metric tonne (implied 62% Fe China Port Price $93.02 per dry tonne), up by 11 yuan per wmt. Key drivers Market participants in China continued to talk about the maintenance work planned by Australian miner BHP for July. But sources told Fastmarkets that this would be unlikely to affect its general iron ore shipment volumes, because the miner has spot stocks at its loading ports and...

Published

July Zhang

Alex Theo

May 16, 2019

13:22 GMT

Shanghai, Singapore