Seaborne iron ore concentrate, pellet prices rebound in line with futures, fines

Seaborne iron ore concentrate and pellet trading with limited by poor demand in China last week, but bullish futures and fines markets led to a rise in prices, sources told Fastmarkets.

Fastmarkets’ index for iron ore 66% Fe concentrate, cfr Qingdao stood at $112.61 per tonne on Thursday July 9, up by $4.73 per tonne (4.4%) from $107.88 per tonne a week earlier.
Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, reached $118.50 per tonne on July 9, up by $5 per tonne from $113.50 per tonne a weak earlier.

“Price for steel products, [including] rebar, are increasing, implying there is good demand,” a trading source in southern China said on Thursday, “and the expectation of more iron ore consumption to meet steel demand [has created a more] bullish market in iron ore futures and fines. The price of iron ore concentrate has also followed this trend.” 
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Published

Zihao Yu

July 13, 2020

08:50 GMT

Singapore