IRON ORE DAILY: Cold wave cools down trading sentiment

Seaborne iron ore prices declined again on Tuesday December 29 due to the cold wave in China suppressing operations at ports and leading to weakened steel demand, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $163.02 per tonne, down $0.83 per tonne
62% Fe low-alumina fines, cfr Qingdao: $163.50 per tonne, down $1 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $152.15 per tonne, down $0.87 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $176.20 per tonne, down $1.70 per tonne
62% Fe fines, fot Qingdao: 1,123 yuan per wet metric tonne (implied 62% Fe China Port Price: $160.16 per dry tonne), down by 5 yuan per wmt
Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) decreased sharply before the closure of the morning trading...

Published

Zihao Yu

December 29, 2020

11:38 GMT

Singapore