IRON ORE DAILY: Steady prices prompt active trading to continue

Iron ore prices were relatively stable on Thursday July 30, encouraging trading in both the seaborne market and at ports in China.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $110.58 per tonne, up $0.01 per tonne
62% Fe low-alumina fines, cfr Qingdao: $112.94 per tonne, down $0.04 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $97.99 per tonne, up $0.58 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $122.30 per tonne, down $0.20 per tonne
62% Fe fines, fot Qingdao: 860 yuan per wet metric tonne (implied 62% Fe China Port Price: $113.61 per dry tonne), up by 1 yuan per wmt
Key drivers
The Dalian Commodity Exchange iron ore futures market cooled after yesterday’s surge, with the most-traded September futures contract closing down by 0.18%.
But the iron ore swaps for August and September on the Singapore Exchange increased by $0.12 and $ 0.11 per tonne respectively by 6pm.

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Published

Zihao Yu

July 30, 2020

12:18 GMT

Singapore