IRON ORE DAILY: Seaborne prices continue upward march; firm demand boosts lump premiums

Seaborne iron ore prices maintained their upward trend across the board on Thursday January 7, with lump premiums also continuing to rise because of firm demand, sources told Fastmarkets.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $171.69 per tonne, up $2.97 per tonne
62% Fe low-alumina fines, cfr Qingdao: $172.25 per tonne, up $3.50 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $156.60 per tonne, up $1.24 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $189.60 per tonne, up $3.20 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.3150 per dry metric tonne unit (dmtu), up $0.0250 per dmtu.
62% Fe fines, fot Qingdao: 1151 yuan per wet metric tonne (implied 62% Fe China Port Price: $166.21 per dry tonne), up by 8 yuan per wmt
Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) was largely rangebound during the morning trading session on Thursday, but started to climb in the afternoon,...

Published

Alex Theo

January 07, 2021

12:02 GMT

Singapore