IRON ORE DAILY: Seaborne prices close in on $100/tonne amid rush to build inventories ahead of National Day holiday in China

Seaborne iron ore prices surged on Thursday September 12 amid support from Chinese steelmakers stocking up ahead of the week-long National Day holiday at the start of October.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao:
 $99.30 per tonne, up $4.64 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $99.69 per tonne, up $4.64 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $97.60 per tonne, up $4.65 per tonne.
58% Fe fines high-premium, cfr Qingdao: $86.57 per tonne, up $4.07 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $105.60 per tonne, up $4.20 per tonne.
62% Fe fines, fot Qingdao: 768 yuan per wet metric tonne (implied 62% Fe China Port Price, $99.45 per dry tonne), up 14 yuan per wet metric tonne.
Key drivers

Chinese steelmakers were still building inventories ahead of the upcoming holiday in October, which prompted a strong support for prices, according...


Alex Theo

September 12, 2019

13:07 GMT