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.”