IRON ORE DAILY: Prices jump above $110 per tonne again on bullish trade

Seaborne iron ore prices soared across the $110-per-tonne-cfr mark again on Tuesday June 18 after a dip on Monday, amid bullish trading in derivatives and physical markets.

MB 62% Fe Iron Ore Index: $112.28 per tonne cfr Qingdao, up $4.07 per tonne. MB 62% Fe Pilbara Blend Fines Index: $111.08 per tonne cfr Qingdao,up $4.07 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $114.46 per tonne cfr Qingdao, up $3.71 per tonne. MB 58% Fe Premium Index: $102.97 per tonne cfr Qingdao, up $3.30 per tonne. MB 65% Fe Iron Ore Index: $123.30 per tonne cfr Qingdao, up $1.60 per tonne. MB 62% Fe China Port Price Index: 817 yuan per wet metric tonne (implied 62% Fe China Port Price $108.94 per dry tonne), unchanged. Key drivers China’s iron ore futures have moved moderately higher since a retreat in the first half of the night session on Monday, and they posted a sharp spike in the last 30 minutes of the day session on Tuesday....

Published

July Zhang

Alex Theo

June 18, 2019

13:23 GMT

Shanghai, Singapore