IRON ORE DAILY: IOCJ is star performer in pre-holiday lull

Iron ore trading was quieter on Tuesday January 21, with Iron Ore Carajas (IOCJ) continuing to be the top performer in the run up to the week-long Chinese New Year holiday, which starts on Friday.

62% Fe fines, cfr Qingdao: $96.80 per tonne, up $0.10 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $95.84 per tonne, up $0.10 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $97.83 per tonne, down $0.06 per tonne.
58% Fe fines high-premium, cfr Qingdao: $82.02 per tonne, down $0.27 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $111.90 up $0.80 per tonne.
62% Fe fines, fot Qingdao: 702 yuan per wet metric tonne (implied 62% Fe China Port Price: $93.95 per dry tonne), up 2 yuan per wet metric tonne.
Key drivers
China’s iron ore futures traded within a narrower range compared with Monday, while steel futures retreated by around 1%.

Iron ore derivatives on the Singapore Exchange (SGX) traded with even less volatility during the day. The 62%...


July Zhang

January 21, 2020

13:55 GMT