IRON ORE DAILY: Strong steel pricing boosts seaborne iron ore sentiment

Iron ore prices increased on Friday March 26, supported by the strong steel prices, especially in billet, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $161.30 per tonne, up $1.45 per tonne
62% Fe low-alumina fines, cfr Qingdao: $162.74 per tonne, up $0.61 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $147.66 per tonne, up $0.69 per tonne 
65% Fe Brazil-origin fines, cfr Qingdao: $190.80 per tonne, up $0.40 per tonne
62% Fe fines, fot Qingdao: 1,123 yuan per wet metric tonne (implied 62% Fe China Port Price: $159.92 per dry tonne), up by 6 yuan per wmt
Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) increased steadily after opening, ending up by 2% from Thursday’s closing price of 1,067.50...

Published

Zihao Yu

March 26, 2021

11:05 GMT

Singapore