IRON ORE DAILY: 62% Fe index returns to $100-mark amid gains in futures

Seaborne iron ore prices went up on Friday July 3, crossing the $100 per tonne threshold once more after falling below the mark in late June.

A rise in prices in both the Chinese iron ore futures market and the 62% Fe July swaps contract on the Singapore Exchange (SGX) contributed to the increase.
Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $100.65 per tonne, up $1.18 per tonne. 
62% Fe low-alumina fines, cfr Qingdao: $103 per tonne, up $0.90 per tonne. 
58% Fe fines high-grade premium, cfr Qingdao: $89.55 per tonne, down $1.42 per tonne. 
65% Fe Brazil-origin fines, cfr Qingdao: $113 per tonne, up $0.90 per tonne.
62% Fe fines, fot Qingdao: 795 yuan per wet metric tonne (implied 62% Fe China Port Price: $103.77 per dry tonne), up by 1 yuan per wmt.
Key drivers

In Chinese iron ore futures, the most-traded September contract rose sharply during the late trading session on Thursday and then remained largely stable through the trading day...

Published

Alex Theo

July 03, 2020

13:17 GMT

Singapore