IRON ORE DAILY: Seaborne prices up amid active trading before Chinese holidays

Seaborne iron ore prices rebounded on Wednesday June 24 amid active trading ahead of the Chinese Dragon Boat Festival holidays from June 25-27.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $103.34 per tonne, up $2.72 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $106.49 per tonne, up $2.27 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $92.84 per tonne, up $1.56 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $115.80 per tonne, up $1.80 per tonne.
62% Fe fines, fot Qingdao: 804 yuan per wet metric tonne (implied 62% Fe China Port Price: $105.01 per dry tonne), up 11 yuan per wmt.
Key drivers
Iron ore prices performed strongly on Wednesday in both the seaborne and futures markets.
In the futures market, the forward months iron ore swap contracts on the Singapore Exchange (SGX) and the most-traded September 2020 iron ore futures contract on the Dalian Commodity Exchange (DCE) all gained more than 2%.

“The swaps on...

Published

Zihao Yu

June 24, 2020

12:22 GMT

Singapore