IRON ORE DAILY: Seaborne prices rise on active trading

Iron ore prices rose again on Monday July 6 amid active trading in the seaborne and futures markets.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $101.24 per tonne, up $0.59 per tonne. 
62% Fe low-alumina fines, cfr Qingdao: $103.99 per tonne, up $0.99 per tonne. 
58% Fe fines high-grade premium, cfr Qingdao: $89.81 per tonne, up $0.26 per tonne. 
65% Fe Brazil-origin fines, cfr Qingdao: $115 per tonne, up $1.50 per tonne. 
62% Fe fines, fot Qingdao: 797 yuan per wet metric tonne (implied 62% Fe China Port Price: $104.15 per dry tonne), up by 2 yuan per wmt.
Key drivers
Multiple seaborne iron ore deals were done in today’s trading session, supporting iron ore prices, sources said.
In the futures market, the iron ore contracts also increased with cash inflows to the Dalian Commodity Exchange.

“The large increase in the Shanghai A-share index is helping the market to rebuild confidence in...

Published

Zihao Yu

July 06, 2020

14:30 GMT

Singapore