IRON ORE DAILY: Seaborne prices rise on Brazil supply jitters; oversupply drags down lump premiums

Seaborne iron ore prices increased on Tuesday July 21 after further concerns emerged over supplies from Brazil, sources told Fastmarkets.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $111.43 per tonne, up $1.89 per tonne. 
62% Fe low-alumina fines, cfr Qingdao: $113 per tonne, up $1.56 per tonne. 
58% Fe fines high-grade premium, cfr Qingdao: $100.36 per tonne, up $2.50 per tonne. 
65% Fe Brazil-origin fines, cfr Qingdao: $121.80 per tonne, up $0.60 per tonne.
62% Fe fines, fot Qingdao: 868 yuan per wet metric tonne (implied 62% Fe China Port Price: $114.94 per dry tonne), up by 14 yuan per wmt. 
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.0450 per dry metric tonne unit, down $0.0350 per dmtu
Key drivers

Futures markets in China and Singapore increased on Tuesday after Brazilian miner Vale announced that while it was maintaining its production guidance for 2020 at 310-330 million tonnes, its output was...

Published

Alex Theo

July 21, 2020

15:00 GMT

Singapore