IRON ORE DAILY: Trading recovery keeps prices from falling further

The seaborne iron ore market halted its downward spiral on Thursday August 8, with the return of some buying interest keeping prices from falling for a seventh consecutive trading day.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao: $94.12 per tonne, up $0.81 per tonne. Fastmarkets’ index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $92.62 per tonne, up $0.81 per tonne. Fastmarkets’ index for iron ore 62% Fe low alumina fines, cfr Qingdao: $94.78 per tonne, up $0.83 per tonne. Fastmarkets’ index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $84.11 per tonne, up $1.11 per tonne. Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $101.60 per tonne, up $1.20 per tonne. Fastmarkets’ index for iron ore 62% Fe fines, fot Qingdao: 773 yuan per wet metric tonne (implied 62% Fe China Port Price $101.05 per dry tonne), down 9 yuan per wet metric tonne. Key drivers Trading activity picked up during the day, with cargoes changing hands against indices. Jimblebar fines changed hands at the October average of two indices at a discount of $2.70 per...

Published

Alex Theo

August 08, 2019

13:19 GMT

Singapore