IRON ORE DAILY: 65% Fe index bucks downward trend on robust appetite from steel mills

Seaborne high-grade iron ore prices bucked the overall downward trend on Friday October 17 amid a healthy appetite for the steelmaking raw material.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $86.36 per tonne, down $0.70 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $85.40 per tonne, down $0.70 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $84.93 per tonne, down $0.91 per tonne. 58% Fe fines high-premium, cfr Qingdao: $75.48 per tonne, down $1.08 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $94.90 per tonne, up $1.20 per tonne.  62% Fe fines, fot Qingdao: 685 yuan per wet metric tonne (implied 62% Fe China Port Price, $88.76 per dry tonne), down 14 yuan per wet metric tonne. Key drivers Chinese steelmakers were keen on 65% Fe Iron Ore Carajas (IOCJ) on Friday, according to market participants. The appetite for IOCJ was said to be robust, with several steel mills blending the high-grade raw material with lower-grade iron ore fines, according to some traders. At least two...

Published

July Zhang

Alex Theo

October 18, 2019

13:47 GMT

Singapore, Shanghai