IRON ORE DAILY: Prices surge on steel demand recovery after holiday

Seaborne prices climbed on Monday January 4, supported by firm demand in steel and positive sentiment after the New Year holiday, according to sources.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $165.29 per tonne, up $4.82 per tonne 62% Fe low-alumina fines, cfr Qingdao: $166.00 per tonne, up $4.58 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $149.63 per tonne, unchanged  65% Fe Brazil-origin fines, cfr Qingdao: $181.50 per tonne, up $7.80 per tonne 62% Fe fines, fot Qingdao: 1,114 yuan per wet metric tonne (implied 62% Fe China Port Price: $159.02 per dry tonne), down by 2 yuan per wmt Key drivers The most-traded iron ore futures May contract on the Dalian Commodity Exchange (DCE) was largely flat during the morning, but increased sharply in afternoon trading, ending the day up by 2.4% from last Thursday’s closing price of 996 yuan ($153) per tonne. Meanwhile, the iron ore forward-month swap...

Published

Zihao Yu

January 04, 2021

12:39 GMT

Singapore