IRON ORE DAILY: Seaborne prices rise again

Seaborne iron ore prices advanced again on Friday May 24 amid robust trading activity.

MB 62% Fe Iron Ore Index: $105.32 per tonne cfr Qingdao, up by $1.53 per tonne. MB 62% Fe Pilbara Blend Fines Index: $103.51 per tonne cfr Qingdao, up by $1.53 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $108.80 per tonne cfr Qingdao, up by $0.90 per tonne. MB 58% Fe Premium Index: $96.02 per tonne cfr Qingdao, up by $0.77 per tonne. MB 65% Fe Iron Ore Index: $119.30 per tonne cfr Qingdao, up by $0.80 per tonne. MB 62% Fe China Port Price Index: 743 yuan per wet metric tonne (implied 62% Fe China Port Price $98.92 per dry tonne), up by 5 yuan per wmt. Key drivers Iron ore stockpiles at 45 major Chinese ports totaled 127.68 million tonnes on Friday, down 4.39 million tonnes from a week earlier, according to a local data provider. Higher blast furnace capacity utilization rates among Chinese steelmakers and no significant increase in seaborne iron ore supplies have...

Published

July Zhang

May 24, 2019

14:14 GMT

Shanghai