IRON ORE DAILY: 65% Fe index up in anticipation of firm demand from steel mills [CORRECTED]

The high-grade seaborne iron ore index rose to $107.30 per tonne cfr on Tuesday January 7, with market participants attributing the increase to healthy demand from steelmakers in China.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $95.11 per tonne, down $0.50 per tonne
62% Fe Pilbara Blend fines, cfr Qingdao: $94.20 per tonne, down $0.50 per tonne
62% Fe low-alumina fines, cfr Qingdao: $95.72 per tonne, down $0.28 per tonne
58% Fe fines high-premium, cfr Qingdao: $80.91 per tonne, up $0.04 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $107.30 per tonne, up $0.70 per tonne
62% Fe fines, fot Qingdao: 695 yuan per wet metric tonne (implied 62% Fe China Port Price: $91.43 per dry tonne), unchanged
Key drivers
In the steelmaking hub of Tangshan in north China, pollution curbs have now been lifted, sources told Fastmarkets.

Some market participants believe steelmakers will take the opportunity to boost production of finished steel products ahead of the week long Lunar New Year break in late January.
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Published

Alex Theo

January 07, 2020

15:23 GMT

Singapore