IRON ORE DAILY: Prices surge after holiday in China

Iron ore prices surged on Thursday February 18 on support from strong steel prices and positive sentiment regarding steel inventory, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $175.05 per tonne, up $8.17 per tonne
62% Fe low-alumina fines, cfr Qingdao: $175.50 per tonne, up $8.25 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.22 per tonne, up $7.56 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $198 per tonne, up $7.80 per tonne
62% Fe fines, fot Qingdao: 1,176 yuan per wet metric tonne (implied 62% Fe China Port Price: $170 per dry tonne), up by 36 yuan per wmt
Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) opened high on the first trading day after the Chinese New Year holiday and maintained at an intra-day high, ending up by...

Published

Zihao Yu

February 18, 2021

11:32 GMT

Singapore