IRON ORE DAILY: Seaborne prices rise; portside high-grade fines attract buyers

Seaborne iron ore prices pushed up on Friday January 8 on active trading, with demand for high-grade iron ore fines well supported at the Chinese ports, sources told Fastmarkets.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $173.06 per tonne, up $1.37 per tonne
62% Fe low-alumina fines, cfr Qingdao: $173.33 per tonne, up $1.08 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $158.63 per tonne, up $2.03 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $192.00 per tonne, up $2.40 per tonne
62% Fe fines, fot Qingdao: 1163 yuan per wet metric tonne (implied 62% Fe China Port Price: $167.68 per dry tonne), up by 12 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 before falling slightly after the midday break, but the futures contract managed to rebound to end the day up by 0.4% from Thursday’s closing price of 1,062.50 yuan ($164) per...

Published

Alex Theo

January 08, 2021

12:05 GMT

Singapore