IRON ORE DAILY: 62% Fe fines index continues losing while others recover

Seaborne iron ore prices have fluctuated at current levels amid increasing Chinese manufacturing PMI, which is helping market sentiment to recover, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $99.43 per tonne, down $0.42 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $102.55 per tonne, up $0.10 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $90.30 per tonne, up $0.49 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $112.40 per tonne, up $0.40 per tonne.
62% Fe fines, fot Qingdao: 794 yuan per wet metric tonne (implied 62% Fe China Port Price: $103.51 per dry tonne), up by 3 yuan per wmt.
Key drivers
According to the National Bureau of Statistics of China, the purchasing managers’ index (PMI) for the manufacturing sector in June stood at 50.9%, up by 0.3% compared to May.
The PMI, which had stayed above 50% for four months, indicates good expansion in manufacturing and improved market sentiment around trading, sources said.

"Iron...

Published

Zihao Yu

June 30, 2020

12:50 GMT

Singapore