IRON ORE DAILY: Active trading, strong futures gains prompt surge in seaborne prices

Seaborne iron ore prices were up on Wednesday July 29 in an active day on trading platforms, with gains observed in the futures markets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $110.57 per tonne, up $3.91 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $112.98 per tonne, up $3.19 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $97.41 per tonne, up $1.86 per tonne. 
65% Fe Brazil-origin fines, cfr Qingdao: $122.50 per tonne, up $3.10 per tonne.
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.0650 per dry metric tonne unit (dmtu), up $0.0050 per dmtu
62% Fe fines, fot Qingdao: 859 yuan per wet metric tonne (implied 62% Fe China Port Price: $113.56 per dry tonne), up by 6 yuan per wmt
Key drivers
There was active trading on both Globalore and Beijing Iron Ore Trading Center platforms, signaling increased demand for iron ore fines, according to trade sources.

“Looks like demand for [iron ore] fines is healthy...

Published

Alex Theo

July 29, 2020

12:21 GMT

Singapore