IRON ORE DAILY: Low rebar inventories indirectly spark rise in seaborne iron ore prices

Seaborne iron ore prices were up on Wednesday October 28 amid an uptrend in the futures market, which was prompted by low steel reinforcing bar (rebar) inventories, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $116.87 per tonne, up $1.74 per tonne
62% Fe low-alumina fines, cfr Qingdao: $117.10 per tonne, up $1.09 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $108.75 per tonne, up $0.94 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $130.30 per tonne, up $0.50 per tonne
62% Fe fines, fot Qingdao: 871 yuan per wet metric tonne (implied 62% Fe China Port Price: $120.17 per dry tonne), up by 1 yuan per wmt
Key drivers

The most-traded January contract in the Chinese iron ore futures market on the Dalian Commodity...

Published

Alex Theo

October 28, 2020

11:32 GMT

Singapore