IRON ORE DAILY: Steely edge for the steelmaking raw material

Seaborne iron ore prices moved up on Tuesday March 17 with market participants highlighting rebar and iron ore as the star performers in China, with physical iron ore prices performing strongly during the day.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $91.20 per tonne, up $0.32 per tonne
62% Fe low-alumina fines, cfr Qingdao: $92.39 per tonne, up $0.25 per tone
58% Fe fines high-grade premium, cfr Qingdao: $79.79 per tonne, up $0.09 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $106.20 per tonne, up $0.10 per tonne
62% Fe fines, fot Qingdao: 675 yuan per wet metric tonne (62% Fe China Port Price: $88.37 per dry tonne), down 3 yuan per wmt.
Key drivers
Futures prices on the Dalian Commodity Exchange and Singapore Exchange climbed up on Tuesday, following a rout in global equities the previous day.

Market participants attributed the strong performance in the iron ore market to persistent supply...

Published

Deepali Sharma

Karen Shi

Yu Zihao

March 17, 2020

11:30 GMT

Singapore