IRON ORE DAILY: Seaborne prices rangebound as market remains cautious of high inventories, demand lull in winter

Seaborne iron ore prices were rangebound on Tuesday November 5, with market participants remaining jittery over high inventories and the upcoming demand lull over the winter season.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $83.30 per tonne, up $0.03 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $83.12 per tonne, up $0.03 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $82.70 per tonne, down $0.01 per tonne. 58% Fe fines high-premium, cfr Qingdao: $72.43 per tonne, down $0.52 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $92.30 per tonne, down $0.80 per tonne. 62% Fe fines, fot Qingdao: 657 yuan per wet metric tonne (implied 62% Fe China Port Price, $85.56 per dry tonne), down 8 yuan per wet metric tonne. 63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.2000 per dry metric tonne unit, up $0.0050 per dry metric tonne unit. Key drivers China’s benchmark January iron ore futures moved up from the start of the morning trading session on Tuesday, ending the session around 1.1% higher compared with the previous day’s closing price. Chinese steel futures also saw an upward...

Published

July Zhang

Alex Theo

November 05, 2019

11:52 GMT

Singapore, Shanghai