IRON ORE DAILY: Port prices rise amid surge in May futures contract

Chinese port prices increased by as much as 15 yuan per tonne ($2.14 per tonne) for Pilbara Blend fines on Thursday February 20 amid a surge in the May iron ore contract on the Dalian Commodity Exchange (DCE).

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $92.01 per tonne, up $2.01 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $91.34 per tonne, up $2.01 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $93.16 per tonne, up $2 per tonne.
58% Fe fines high-premium, cfr Qingdao: $79.08 per tonne, up $1.43 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $106 per tonne, up $2.20 per tonne.
62% Fe fines, fot Qingdao: 665 yuan per wet metric tonne (implied 62% Fe China Port Price: $87.04 per dry tonne), up 11 yuan per wmt.
Key drivers
The May iron ore futures contract on the DCE ended the trading session around 3.3% higher compared with the previous day’s closing price.

Market participants attributed the price hike on the DCE to the announcement...

Published

Alex Theo

February 20, 2020

12:22 GMT

Singapore