IRON ORE DAILY: Seaborne prices firm up above $100 per tonne on higher futures, spot steel values

Seaborne iron ore prices continued to strengthen on Tuesday May 21 after exceeding $100 per tonne cfr last Friday, thanks to gains in the futures and spot steel markets.

MB 62% Fe Iron Ore Index: $102.03 per tonne cfr Qingdao, up by $0.32 per tonne. MB 62% Fe Pilbara Blend Fines Index: $100.22 per tonne cfr Qingdao, up by $0.32 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $105.76 per tonne cfr Qingdao, up by $1.28 per tonne. MB 58% Fe Premium Index: $92.88 per tonne cfr Qingdao, up by $0.76 per tonne. MB 65% Fe Iron Ore Index: $116.70 per tonne cfr Qingdao, up by $1.10 per tonne. MB 62% Fe China Port Price Index: 721 yuan per wet metric tonne (implied 62% Fe China Port Price $95.84 per dry tonne), up by 5 yuan per wmt. Key drivers China’s ferrous futures advanced across the board with the benchmark coke and steel contracts leading the march, increasing by 3.2-5.2% from the preceding day's settlement levels. The most-liquid iron ore contract...

Published

July Zhang

May 21, 2019

13:23 GMT

Shanghai