IRON ORE DAILY: Seaborne prices up amid logistics concerns at Chinese ports

Seaborne iron ore prices rose on Friday August 28 amid concerns over logistics which have been limited by precautions taken by Chinese ports against typhoon Bavi, according to trade sources.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $124.37 per tonne, up $2.15 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $124.16 per tonne, up $2.47 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $109.63 per tonne, up $0.71 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $135.80 per tonne, up $2.40 per tonne.
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.0650 per dry metric tonne unit (dmtu), up $0.0400 per dmtu
62% Fe fines, fot Qingdao: 951 yuan per wet metric tonne (implied 62% Fe China Port Price: $128.22 per dry tonne), up by 2 yuan per wmt
Key drivers
Trading activity at some Chinese ports was limited due to precautions taken following news of typhoon Bavi landing in areas near Shandong.

“Some Shandong ports, such as Rizhao, Lanshan, Lanqiao, Dalian and Dandong, have taken...

Published

Alex Theo

August 28, 2020

12:00 GMT

Singapore