IRON ORE DAILY: Replenishment expectations support prices, active trading [CORRECTED]

Iron ore prices gained again on Monday September 14, with market sources expecting mills to replenish their iron ore inventory before the Golden Week holiday in October in China, which resulted in active trading at ports and a rise in prices.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $130.17 per tonne, up $1.80 per tonne
62% Fe low-alumina fines, cfr Qingdao: $130.22 per tonne, up $2.04 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $119.23 per tonne, up $3.50 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $143.10 per tonne, up $1.70 per tonne
62% Fe fines, fot Qingdao: 951 yuan per wet metric tonne (implied 62% Fe China Port Price: $129.18 per dry tonne), down by 2 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange continued its uptrend again and fluctuated around a higher price level throughout the day compared with last Friday, ending the trading session with an 1.4% increase. 

Meanwhile, iron ore swap contracts on the Singapore Exchange remained bullish as well,...

Published

Zihao Yu

September 14, 2020

15:45 GMT

Singapore