IRON ORE DAILY: 65% seaborne price crosses $100/t mark for the first time since early October

The Fastmarkets index for iron ore 65% Fe Brazil-origin, cfr Qingdao, rose on Friday November 22, breaching the $100-per-tonne mark for the first time since October 8.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $88.08 per tonne, up $1.41 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $88.11 per tonne, up $1.41 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $87.47 per tonne, up $1.28 per tonne.
58% Fe fines high-premium, cfr Qingdao: $77.55 per tonne, up $0.80 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $100.10 per tonne, up $1.10 per tonne.
62% Fe fines, fot Qingdao: 654 yuan per wet metric tonne (implied 62% Fe China Port Price, $85.04 per dry tonne), up 4 yuan per wet metric tonne.
Key drivers
Strong demand for finished steel products has lent support to iron ore prices, according to market participants.

Some mills were heard to have started restocking iron ore fines, which has also led to...

Published

Alex Theo

November 22, 2019

13:02 GMT

Singapore