IRON ORE DAILY: Prices rise on positive expectations of growth in demand for steel

Iron ore prices mostly increased on Thursday February 25, supported by healthy mill margins and expectations of a steady rise in demand for steel, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $174.24 per tonne, up $1.53 per tonne
62% Fe low-alumina fines, cfr Qingdao: $174.70 per tonne, up $1.59 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.06 per tonne, down $0.30 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $197.80 per tonne, up $0.90 per tonne
62% Fe fines, fot Qingdao: 1190 yuan per wet metric tonne (implied 62% Fe China Port Price: $171.9 per dry tonne), up by 5 yuan per wmt
Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) increased in the morning, but weakened before the close to end the day up by 0.1% from Wednesday’s closing...

Published

Zihao Yu

February 25, 2021

11:35 GMT

Singapore