IRON ORE DAILY: Seaborne prices rangebound; low-alumina fines likely to gain interest

The seaborne iron ore index was rangebound on Thursday January 16, likely due to weaker demand from mills, while demand for low-alumina fines seemed robust.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $96.36 per tonne, down $0.08 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $95.40 per tonne, down $0.08 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $97.20 per tonne, up $0.09 per tonne.
58% Fe fines high-premium, cfr Qingdao: $81.78 per tonne, down $0.67 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $109.20 per down $0.30 per tonne.
62% Fe fines, fot Qingdao: 700 yuan per wet metric tonne (implied 62% Fe China Port Price: $93.25 per dry tonne), up 1 yuan per wet metric tonne.
Key drivers
Market participants believe that Chinese steel mills' stockpiling exercise has likely come to an end, which is prompting a decline in demand.

Port side trading activity continues to be limited compared with the start of the week, which is another signal...

Published

Alex Theo

January 16, 2020

12:05 GMT

Singapore