IRON ORE DAILY: Seaborne prices buck downtrend amid firm buying interest

Seaborne iron ore prices were up on Friday January 29 amid firmer buying interest, market sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $158.54 per tonne, up $1.12 per tonne
62% Fe low-alumina fines, cfr Qingdao: $159.05 per tonne, up $1.05 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $144.95 per tonne, up $1.14 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $182.60 per tonne, up $0.50 per tonne
62% Fe fines, fot Qingdao: 1,120 yuan per wet metric tonne (implied 62% Fe China Port Price: $161.52 per dry tonne), down by 15 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.3900 per dry metric tonne unit (dmtu), up $0.0050 per dmtu.
Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) traded largely flat for the entire session, eventually closing 0.5% higher compared with Thursday’s close price of 985.50 yuan ($152) per...

Published

Alex Theo

January 29, 2021

12:10 GMT

Singapore