IRON ORE DAILY: Easing October sintering restrictions prompt seaborne price support

Seaborne iron ore prices were up on Tuesday September 29 amid the easing of sintering restrictions in Tangshan over October, trade sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $117.61 per tonne, up $1.46 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $117.89 per tonne, up $1.74 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $108.59 per tonne, up $1.84 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $129.50 per tonne, up $1.00 per tonne.
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.0800 per dry metric tonne unit (dmtu), up $0.0300 per dmtu.
62% Fe fines, fot Qingdao: 906 yuan per wet metric tonne (implied 62% Fe China Port Price: $123.17 per dry tonne), up by 9 yuan per wmt
Key drivers
There was talk among market participants that sintering restrictions were likely to be eased in October, which might prompt a return in demand for iron ore.

Stricter restrictions have been in place in the steelmaking...

Published

Alex Theo

September 29, 2020

11:26 GMT

Singapore