IRON ORE DAILY: Physical market ends week in summer lull

Physical iron ore trading has been less-than-active this week and became even quieter on Friday July 12, amid a summer lull in the downstream steel markets in China, as well as production restrictions on steelmakers.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao: $119.29 per tonne, down by $0.08 per tonne. Fastmarkets’ index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $119.21 per tonne, down by $0.08 per tonne. Fastmarkets’ index for iron ore 62% Fe low alumina fines, cfr Qingdao: $121.38 per tonne, up by $0.26 per tonne. Fastmarkets’ index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $109.84 per tonne, down by $0.05 per tonne. Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $127.70 per tonne, up by $0.60 per tonne. Fastmarkets’ index for iron ore 62% Fe fines, fot Qingdao: 891 yuan per wet metric tonne (implied 62% Fe China Port Price $120.18 per dry tonne), unchanged. Key drivers The blast furnace capacity utilization rate in northern China’s steel hub of Tangshan fell to around 63% on Friday from almost 70% a week earlier, as a result of continuing restrictions...

Published

July Zhang

Alex Theo

July 12, 2019

14:15 GMT

Shanghai, Singapore