IRON ORE DAILY: Positive economic data, tight supply supports seaborne prices [CORRECTED]

Seaborne iron ore prices resumed their upward trajectory on Monday July 15, amid fears of supply tightness accompanied by a positive outlook on China’s overall economy.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao: $121.41 per tonne, up $2.12 per tonne. Fastmarkets’ index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao:  $121.33 per tonne, up $2.12 per tonne. Fastmarkets’ index for iron ore 62% Fe low alumina fines, cfr Qingdao: $123.17 per tonne, up $1.79 per tonne. Fastmarkets’ index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $112.37 per tonne, up $2.53 per tonne. Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $128.50 per tonne, up $0.80 per tonne. Fastmarkets’ index for iron ore 62% Fe fines, fot Qingdao: 895 yuan per wet metric tonne (implied 62% Fe China Port Price $120.39 per dry tonne), up 4 yuan per wmt. Key drivers Market participants said that data released by the Chinese authorities has given a boost to the iron ore market. China’s crude steel output was up by 10% year-on-year in June,...

Published

July Zhang

Alex Theo

July 15, 2019

13:16 GMT

Singapore, Shanghai