IRON ORE DAILY: Mill restocking supports seaborne price rises

Seaborne iron ore index increased on Wednesday January 8, after steelmakers in China started restocking activities.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $96.22 per tonne, up $1.11 per tonne
62% Fe Pilbara Blend fines, cfr Qingdao: $95.31 per tonne, up $1.11 per tonne
62% Fe low-alumina fines, cfr Qingdao: $96.87 per tonne, up $1.15 per tonne
58% Fe fines high-premium, cfr Qingdao: $81.79 per tonne, up $0.88 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $108 per tonne, up $0.70 per tonne
62% Fe fines, fot Qingdao: 699 yuan per wet metric tonne (implied 62% Fe China Port Price: $92.34 per dry tonne), up 4 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.2550 per dry metric tonne unit, up $0.0150 per dmtu
Key drivers
Several market sources attributed the rise in iron ore prices to the strong demand shown by Chinese steelmakers.

A China-based trader...

Published

Alex Theo

January 08, 2020

12:35 GMT

Singapore