IRON ORE DAILY: Seaborne prices edge up in line with futures activity

Seaborne iron ore prices edged up on Wednesday October 23 in line with the trend seen in the futures market.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $87.18 per tonne, up $0.50 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $87 per tonne, up $0.67 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $85.66 per tonne, up $0.39 per tonne. 58% Fe fines high-premium, cfr Qingdao: $76.70 per tonne, up $0.33 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $95.40 per tonne, up $0.40 per tonne.  62% Fe fines, fot Qingdao: 685 yuan per wet metric tonne (implied 62% Fe China Port Price, $88.71 per dry tonne), up 9 yuan per wet metric tonne. Key drivers Chinese benchmark January iron ore futures rallied during the Tuesday night trading session, rising more than 2%, but stayed rangebound for the Wednesday trading session, ending about 1% higher compared with the previous day's price. Some futures analysts based in Singapore said the initial spike during night trading may have been down to...

Published

July Zhang

Alex Theo

October 23, 2019

13:20 GMT

Singapore, Shanghai