IRON ORE DAILY: Firm demand supports lump premium

The seaborne iron ore lump premium rose on Wednesday January 13, supported by firm demand and limited supply, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $170.11 per tonne, down $2.56 per tonne
62% Fe low-alumina fines, cfr Qingdao: $170.90 per tonne, down $2.10 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $156.92 per tonne, down $0.78 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $191.50 per tonne, down $2.10 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.3450 per dry metric tonne unit (dmtu), up $0.0100 per dmtu.
62% Fe fines, fot Qingdao: 1,164 yuan per wet metric tonne (implied 62% Fe China Port Price: $168.01 per dry tonne), up by 1 yuan per wmt
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) fell by 1.4% on Wednesday from Tuesday’s closing price of 1,049 yuan ($162) per tonne.

Iron ore forward-month...

Published

Alex Theo

January 13, 2021

11:15 GMT

Singapore