IRON ORE DAILY: Mid-grade seaborne iron ore remains below $84/t

Mid-grade seaborne iron ore prices were rangebound on Wednesday November 6 amid continued uncertainty in the market.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $83.47 per tonne, up $0.17 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $83.29 per tonne, up $0.17 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $82.86 per tonne, up $0.17 per tonne. 58% Fe fines high-premium, cfr Qingdao: $72.90 per tonne, up $0.47 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $92.70 per tonne, up $0.40 per tonne.  62% Fe fines, fot Qingdao: 655 yuan per wet metric tonne (implied 62% Fe China Port Price, $85.50 per dry tonne), down 2 yuan per wet metric tonne. Key drivers China’s benchmark January iron ore futures were largely steady for most of the Wednesday trading session but started to dip at just before 3pm Singapore time, ending around 0.1% lower compared with the previous day’s closing prices. The November and December 62% Fe derivative contracts on the Singapore Exchange (SGX) inched up by around $0.10 per tonne and $0.56 per tonne respectively...

Published

July Zhang

Alex Theo

November 06, 2019

11:46 GMT

Singapore, Shanghai