IRON ORE DAILY: Prices mostly rangebound, IOCJ strong, ahead of Chinese New Year

Iron ore prices were largely rangebound on Monday January 20, with some market participants already off for the Chinese New Year holiday, although upward momentum remained for high-grade Iron Ore Carajas (IOCJ).

62% Fe fines, cfr Qingdao: $96.70 per tonne, down $0.88 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $95.74 per tonne, down $0.88 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $97.89 per tonne, down $0.21 per tonne.
58% Fe fines high-premium, cfr Qingdao: $82.29 per tonne, down $0.56 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $111.10 up $0.40 per tonne.
62% Fe fines, fot Qingdao: 700 yuan per wet metric tonne (implied 62% Fe China Port Price: $93.62 per dry tonne), unchanged.
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.2650 per dry metric tonne unit, up $0.0100 per dry metric tonne unit.
Key drivers
China’s steel and iron ore futures experienced intraday fluctuations on Monday and ended slightly higher than last Friday’s close levels.


July Zhang

January 20, 2020

13:15 GMT