IRON ORE DAILY: High-grade seaborne price bucks downward trend amid limited supply; further pollution curbs emerge in Tangshan

High-grade seaborne iron ore prices rose on Monday December 23 amid limited supply of the raw material, while those of mid-grade fines were slightly lower.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $91.33 per tonne, down $0.30 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $90.42 per tonne, down $0.30 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $91.33 per tonne, down $0.13 per tonne.
58% Fe fines high-premium, cfr Qingdao: $79.09 per tonne, down $0.13 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $102.60 per tonne, up $0.90 per tonne.
62% Fe fines, fot Qingdao: 674 yuan per wet metric tonne (implied 62% Fe China Port Price: $88.08 per dry tonne), down 3 yuan per wet metric tonne.
Key drivers
Market participants believe that the winter heating season will prompt steel mills to turn to high-grade raw materials to boost efficiencies in their blast furnaces amid restrictions imposed due to pollution levels.

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Published

Alex Theo

December 23, 2019

12:25 GMT

Singapore