IRON ORE DAILY: Seaborne trading thin amid uncertain outlook

Seaborne iron ore trading was slow on Friday November 1 amid uncertainties about China’s steel markets and policies.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $85.56 per tonne, down by $0.41 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $85.38 per tonne, down by $0.41 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $84.94 per tonne, up by $0.31 per tonne. 58% Fe fines high-premium, cfr Qingdao: $75.05 per tonne, up by $1.45 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $94.80 per tonne, up by $0.30 per tonne. 62% Fe fines, fot Qingdao: 665 yuan per wet metric tonne (implied 62% Fe China Port Price, $86.44 per dry tonne), down by 3 yuan per wmt. Key drivers China’s steel and iron ore futures dipped briefly early on Friday morning, but they advanced later to end positively at the 3pm close. The November and December 62% Fe derivative contracts on the Singapore Exchange also gained by around $1.50 per tonne at...

Published

July Zhang

Alex Theo

November 01, 2019

13:02 GMT

Shanghai, Singapore