IRON ORE DAILY: Seaborne prices rise on anticipation of looser production restrictions in Tangshan [CORRECTED]

Seaborne iron ore prices rose on Tuesday July 30 on news that production restrictions on steelmakers in northern China over August are likely to be relaxed.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao: $119.61 per tonne, up $1.62 per tonne. Fastmarkets’ index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $119.53 per tonne, up $1.62 per tonne. Fastmarkets’ index for iron ore 62% Fe low alumina fines, cfr Qingdao: $120.89 per tonne, up $1.68 per tonne. Fastmarkets’ index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $106.47 per tonne, up $0.68 per tonne. Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $128 per tonne, up $2.20 per tonne. Fastmarkets’ index for iron ore 62% Fe fines, fot Qingdao: 893 yuan per wet metric tonne (implied 62% Fe China Port Price $119.95 per dry tonne), up 8 yuan per wet metric tonne. Key drivers Market participants believe the market was more bullish after it was heard that production restrictions for steelmakers in the hub of Tangshan over...

Published

Alex Theo

July 30, 2019

12:36 GMT

Singapore