IRON ORE DAILY: China manufacturing PMI rebound supports prices

The seaborne iron ore market stabilized on Tuesday March 31 after the prior day’s loss of more than $3 per tonne, attributed to a rebound in China’s official manufacturing purchasing managers’ index (PMI) and a slight boost in trading volumes.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $83.32 per tonne, up $0.34 per tonne
62% Fe low-alumina fines, cfr Qingdao: $84.08 per tonne, up $0.20 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $72.82 per tonne, up $0.85 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $97.90 per tonne, unchanged.
62% Fe fines, fot Qingdao: 660 yuan per wet metric tonne (62% Fe China Port Price: $85.15 per dry tonne), up 3 yuan per wmt.
Key drivers

China’s official manufacturing PMI rebounded to 52 in March, after hitting an all-time low...

Published

Karen Shi

Zihao Yu

March 31, 2020

12:11 GMT

Beijing