IRON ORE DAILY: Seaborne prices stable in active trading

Iron ore prices maintained their current level on Thursday July 1 amid active trading in the seaborne market and the ports in China, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $99.47 per tonne, up $0.30 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $102.10 per tonne, down $0.40 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $90.97 per tonne, up $0.84 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $112.50 per tonne, up $0.10 per tonne.
62% Fe fines, fot Qingdao: 794 yuan per wet metric tonne (implied 62% Fe China Port Price: $103.62 per dry tonne), down by 3 yuan per wmt.
Key drivers
According to Brazil's Ministry of the Economy, the country’s iron ore export volumes totaled 30.05 million tonnes in June, up by 40% month on month and 1.3% year on year.
Sources said the market expectation of increasing iron ore supply from South America was leading the bearish attitude in the market.

“The exports...

Published

Zihao Yu

July 02, 2020

12:38 GMT

Singapore