IRON ORE DAILY: Seaborne prices increase on futures markets gains

Seaborne iron ore prices stayed bullish on Tuesday July 7, largely following the upward trend observed in the futures market, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $103.01 per tonne, up $1.77 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $105.31 per tonne, up $1.32 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $91.84 per tonne, up $2.03 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $116.20 per tonne, up $1.20 per tonne.
62% Fe fines, fot Qingdao: 808 yuan per wet metric tonne (implied 62% Fe China Port Price: $106.04 per dry tonne), up by 11 yuan per wmt.
Key drivers
The bullish trend set by the futures market over today’s trading session supported iron ore prices, several sources said.

The most traded September iron ore contract on the Dalian Commodity Exchange (DCE) pushed the bullish trend to begin near the close of the afternoon session on Monday and continued during the night trading session on...

Published

Alex Theo

July 07, 2020

12:40 GMT

Singapore