IRON ORE DAILY: Healthy steel margins drive seaborne prices despite steel price drop

Seaborne Iron ore prices moved up on Monday April 12 amid steelmakers reporting healthy steel margins, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $174.57 per tonne, up $1.03 per tonne
62% Fe low-alumina fines, cfr Qingdao: $174.85 per tonne, up $0.84 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $156.34 per tonne, up $1.87 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $205.90 per tonne, up $2.80 per tonne
62% Fe fines, fot Qingdao: 1,168 yuan per wet metric tonne (implied 62% Fe China Port Price: $166.28 per dry tonne), up by 13 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5450 per dry metric tonne unit (dmtu), up $0.0050 per dmtu.
Key drivers

The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) largely trended flat for most of the session but started to surge toward the close, ending the day up...

Published

Alex Theo

April 12, 2021

11:44 GMT

Singapore