IRON ORE DAILY: Prices march toward $115 per tonne amid futures surge

Physical iron ore prices continued to advance on Wednesday June 19 amid big gains in the futures markets following amelioration of trade tensions between China and the United States.

MB 62% Fe Iron Ore Index: $114.08 per tonne cfr Qingdao, up $1.80 per tonne. MB 62% Fe Pilbara Blend Fines Index: $112.88 per tonne cfr Qingdao,up $1.80 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $115.81 per tonne cfr Qingdao, up $1.35 per tonne. MB 58% Fe Premium Index: $105.04 per tonne cfr Qingdao, up $2.07 per tonne. MB 65% Fe Iron Ore Index: $125.20 per tonne cfr Qingdao, up $1.90 per tonne. MB 62% Fe China Port Price Index: 840 yuan per wet metric tonne (implied 62% Fe China Port Price $112.31 per dry tonne), up 23 yuan per wet metric tonne. Key drivers US president Donald Trump said on Tuesday that he had spoken to Chinese president Xi Jinping over the telephone and that the two countries would restart trade talks soon. The global financial markets responded positively to the news, with China’s ferrous futures all...

Published

July Zhang

Alex Theo

June 19, 2019

14:03 GMT

Shanghai, Singapore