IRON ORE DAILY: Prices rise despite rebar downturn, Tangshan restrictions

Iron ore prices advanced on Thursday January 2 despite a downturn in rebar and further production restrictions in China’s steel hub of Tangshan.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $94.05 per tonne, up $1.92 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $93.14 per tonne, up $1.92 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $94.35 per tonne, up $1.81 per tonne.
58% Fe fines high-premium, cfr Qingdao: $79.75 per tonne, up $0.66 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $104.70 per tonne, up $1 per tonne.
62% Fe fines, fot Qingdao: 690 yuan per wet metric tonne (implied 62% Fe China Port Price: $90.84 per dry tonne), up 12 yuan per wet metric tonne.
Key drivers

China’s central bank announced on Wednesday it would lower the bank reserve requirement ratio by 0.5 percentage points from January...

Published

July Zhang

January 02, 2020

13:05 GMT

Shanghai