IRON ORE DAILY: Seaborne prices up to nearly $95/tonne on increase in trading momentum

Seaborne iron ore prices continued to strengthen on Wednesday September 11, closing in on $95 per tonne cfr China.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $94.66 per tonne, up $1.44 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $95.05 per tonne, up $1.44 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $92.95 per tonne, up $1.92 per tonne. 58% Fe fines high-premium, cfr Qingdao: $82.50 per tonne, up $2.32 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $101.40 per tonne, up $1.90 per tonne. 62% Fe fines, fot Qingdao: 754 yuan per wet metric tonne (implied 62% Fe China Port Price, $97.65 per dry tonne), unchanged. 63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1250 per dry metric tonne unit, up $0.0500 per dry metric tonne unit. Key drivers China’s iron ore futures largely trended up during the day, with the benchmark January contract ending 1.5% higher than the previous day’s settlement. Iron ore derivatives on the Singapore Exchange also advanced, with the October contract rising further after China’s 3pm close of futures trading, to around $91 per tonne cfr, compared...

Published

July Zhang

Alex Theo

September 11, 2019

13:36 GMT

Shanghai, Singapore