IRON ORE DAILY: Seaborne prices rangebound, market waits for restriction announcement

Seaborne iron ore prices were rangebound on Monday November 18, as market participants awaited the official announcement for the winter heating season restrictions in China.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $85.77 per tonne, up $0.73 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $85.80 per tonne, up $0.73 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $85.20 per tonne, up $0.75 per tonne.
58% Fe fines high-premium, cfr Qingdao: $74.65 per tonne, down $0.26 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $96.80 per tonne, down $0.10 per tonne.
62% Fe fines, fot Qingdao: 641 yuan per wet metric tonne (implied 62% Fe China Port Price, $83.66 per dry tonne), down 1 yuan per wet metric tonne.
Key drivers
The official announcement on the winter heating season curbs on production is yet to be made, prompting most market participants to stay conservative.

But some industry sources were optimistic that iron...

Published

Alex Theo

November 18, 2019

12:10 GMT

Singapore