IRON ORE DAILY: Availability of cheaper port cargoes puts pressure on seaborne lump premiums

Seaborne iron ore lump premiums fell on Tuesday July 16, because cheaper alternatives were available at Chinese ports, market participants told Fastmarkets.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao: $122.15 per tonne, up $0.74 per tonne. Fastmarkets’ index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $122.07 per tonne, up $0.74 per tonne. Fastmarkets’ index for iron ore 62% Fe low alumina fines, cfr Qingdao: $123.85 per tonne, up $0.68 per tonne. Fastmarkets’ index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $112.01 per tonne, down $0.36 per tonne. Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $129.30 per tonne, up $0.80 per tonne. Fastmarkets’ index for iron ore 62% Fe fines, fot Qingdao: 910 yuan per wet metric tonne (implied 62% Fe China Port Price $122.57 per dry tonne), up 15 yuan per wmt. Fastmarkets’ index for iron ore 63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.2850 per dry metric tonne unit, down $0.1300 per dmtu. Key drivers The premium for seaborne iron ore...

Published

July Zhang

Alex Theo

July 16, 2019

12:54 GMT

Singapore, Shanghai