IRON ORE DAILY: Slight gains for seaborne prices, pollution control measures issued in Tangshan

Seaborne iron ore prices saw a slight uptick on Wednesday November 20, while some market participants are bracing for production restrictions due to bad weather and heavy pollution levels in north China.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $86.33 per tonne, up $0.53 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $86.36 per tonne, up $0.53 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $85.86 per tonne, up $0.36 per tonne.
58% Fe fines high-premium, cfr Qingdao: $75.81 per tonne, up $0.12 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $98.20 per tonne, up $0.80 per tonne.
62% Fe fines, fot Qingdao: 644 yuan per wet metric tonne (implied 62% Fe China Port Price, $83.86 per dry tonne), down 2 yuan per wet metric tonne.
Key drivers
Market participants believe that appetite among mills has been lackluster amid pollution control restrictions imposed on production in the steelmaking hub of Tangshan.

Sources said that the restrictions will begin on Wednesday from 6pm Singapore...


Alex Theo

November 20, 2019

12:15 GMT