IRON ORE DAILY: Prices weaken amid Chinese rebar dip, production restrictions

Physical iron ore prices softened on Thursday December 12 amid losses in Chinese rebar prices and news of production restrictions in Anyang city, central China.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $94.02 per tonne, down $0.65 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $93.11 per tonne, down $0.65 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $93.63 per tonne, down $0.56 per tonne.
58% Fe fines high-premium, cfr Qingdao: $81.39 per tonne, down $0.62 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $104.10 per tonne, down $0.90 per tonne. 
62% Fe fines, fot Qingdao: 682 yuan per wet metric tonne (implied 62% Fe China Port Price, $88.91 per dry tonne), down 3 yuan per wet metric tonne.
Key drivers
China’s rebar and iron ore futures rose first and then retreated on Wednesday night, followed by rangebound movement on Thursday. The benchmark contracts both ended lower day on day.

The country’s spot rebar...

Published

July Zhang

December 12, 2019

12:10 GMT

Shanghai