IRON ORE DAILY: Seaborne prices rangebound amid higher steel inventory concerns

Seaborne iron ore prices were rangebound on Thursday February 13 amid higher steel inventories and weak demand.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $88.56 per tonne, up $0.88 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $87.89 per tonne, up $0.88 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $89.74 per tonne, up $0.81 per tonne.
58% Fe fines high-premium, cfr Qingdao: $76.64 per tonne, up $1 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $103.50, down $1 per tonne.
62% Fe fines, fot Qingdao: 642 yuan per wet metric tonne (implied 62% Fe China Port Price: $84.17 per dry tonne), up 10 yuan per wmt.
Key drivers

Steel inventory data released by local data providers in China showed higher...

Published

Alex Theo

February 13, 2020

12:05 GMT

Singapore