IRON ORE DAILY: Seaborne prices rebound after Tuesday downturn

Iron ore prices rebounded on Wednesday June 26 amid strong activity on trading platforms.

MB 62% Fe Iron Ore Index: $117.63 per tonne cfr Qingdao, up $3.17 per tonne. MB 62% Fe Pilbara Blend Fines Index: $115.67 per tonne cfr Qingdao, up $2.41 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $117.85 per tonne cfr Qingdao, up $2.14 per tonne. MB 58% Fe Premium Index: $104.52 per tonne cfr Qingdao, down $0.08 per tonne. MB 65% Fe Iron Ore Index: $126.60 per tonne cfr Qingdao, up $1.70 per tonne. MB 62% Fe China Port Price Index: 841 yuan per wet metric tonne (implied 62% Fe China Port Price $112.99 per dry tonne), down 5 yuan per wmt. Key drivers Prices across iron ore grades moved up despite steel mill production restrictions in parts of China. Some market sources expect downstream prices to improve amid the production restrictions in Tangshan and that in turn should support the prices for high-grade material. A buyer source said that the...

Published

Alex Theo

June 26, 2019

13:08 GMT

Singapore