IRON ORE DAILY: Seaborne prices rise again on good demand from mills

Seaborne iron ore prices rose on Tuesday August 4 amid a healthy appetite for material among steel mills, according to traders.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $117.88 per tonne, up by $1.85 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $118.30 per tonne, up by $1.92 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $102.78 per tonne, up by $1.72 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $126.90 per tonne, up by $0.60 per tonne.
62% Fe fines, fot Qingdao: 886 yuan per wet metric tonne (implied 62% Fe China Port Price: $117.58 per dry tonne), up by 5 yuan per wmt
Key drivers
The strong upward trend appeared to have mellowed and the market seemed calmer compared with the steep price upswing on Monday, according to trade sources.

Market participants believed that the bullishness in the market was still being supported by healthy consumption of iron ore among steel mills because of their focus on...

Published

Alex Theo

August 04, 2020

11:58 GMT

Singapore