IRON ORE DAILY: Fines trading in physical market active due to low port inventories [CORRECTED]

Iron ore fines prices held steady in the physical market on active trading on Monday August 17, largely due to low mid-grade fines port inventories in China and despite a decrease in Dalian Commodity Exchange futures values, sources told Fastmarkets.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $121.94 per tonne, down $0.50 per tonne
62% Fe low-alumina fines, cfr Qingdao: $121.50 per tonne, up $0.23 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $107.97 per tonne, up $0.16 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $128.50 per tonne, down $0.10 per tonne
62% Fe fines, fot Qingdao: 932 yuan per wet metric tonne (implied 62% Fe China Port Price: $124.37 per dry tonne), up by 2 yuan per wmt
Key drivers
The iron ore futures market closed at a loss compared to last Friday on the Dalian Commodity Exchange (DCE), where the most-traded January futures contract fell 0.54%.

However, iron ore swaps in the Singapore Exchange (SGX) had risen by more...

Published

Zihao Yu

August 18, 2020

04:08 GMT

Singapore