IRON ORE DAILY: Seaborne prices up amid supply jitters

Iron ore prices in the seaborne Chinese portside market went up on Wednesday April 8, with futures prices on the Dalian Commodity Exchange and Singapore Exchange also showing gains.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $83.64 per tonne, up by $0.91 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $85.15 per tonne, up by $1.04 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $72.67 per tonne, up by $1.13 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $98.40 per tonne, up by $1.10 per tonne.
62% Fe fines, fot Qingdao: 659 yuan per wet metric tonne (62% Fe China Port Price: $85.41 per dry tonne), up by 9 yuan per wmt.
Key drivers
A consumer source in Beijing said that demand for iron ore in China was showing an improvement with the effects of the Covid-19 pandemic retreating, as underlined by the removal of the lockdown order in Wuhan.

The same source, however,...

Published

Deepali Sharma

Zihao Yu

April 08, 2020

12:25 GMT

Singapore