IRON ORE DAILY: Prices rebound amid steel inventory drop, futures gains

Seaborne iron ore prices rebounded on Thursday October 10 following a big decline a day earlier, thanks to gains in the futures markets.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.68 per tonne, up by $2.62 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $94.23 per tonne, up by $3.89 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $92.08 per tonne, up by $2.33 per tonne. 58% Fe fines high-premium, cfr Qingdao: $82.39 per tonne, up by $2.23 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $99.30 per tonne, up by $2.60 per tonne. 62% Fe fines, fot Qingdao: 746 yuan per wet metric tonne (implied 62% Fe China Port Price, $96.26 per dry tonne), down by 8 yuan per wmt. 63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.2100 per dry metric tonne unit, up by $0.0150 per dmtu. Key drivers A set of industry data released by a Chinese data provider early in the afternoon showed that production of major steel products in the country had picked up compared with earlier this week, while inventoriy volumes largely...

Published

July Zhang

October 10, 2019

14:22 GMT

Shanghai