IRON ORE DAILY: Rising prices supported by growing demand for steel

Iron ore futures and seaborne prices both rebounded on Friday October 30, supported by growing demand for steel, although trading activity in the physical market remained limited, sources told Fastmarkets.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao:
$117.49 per tonne, up $1.49 per tonne
62% Fe low-alumina fines, cfr Qingdao: $117.66 per tonne, up $0.82 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $109.47 per tonne, up $0.90 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $130.40 per tonne, up $0.70 per tonne
62% Fe fines, fot Qingdao: 884 yuan per wet metric tonne (implied 62% Fe China Port Price: $121.98 per dry tonne), up by 5 yuan per wmt
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) rebounded further in the late Thursday night trading session and, having fluctuated around 940 yuan per tonne throughout the day, ended up with a...

Published

Zihao Yu

October 30, 2020

10:55 GMT

Singapore