IRON ORE DAILY: Seaborne prices hit new record highs

Seaborne iron ore prices surged again to new record highs on Monday May 10 following bullish steel prices over the weekend, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $230.56 per tonne, up $18.31 per tonne
62% Fe low-alumina fines, cfr Qingdao: $232.61 per tonne, up $18.41 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $202.72 per tonne, up $17.43 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $263.00 per tonne, up $19.40 per tonne
62% Fe fines, fot Qingdao: 1,657 yuan per wet metric tonne (implied 62% Fe China Port Price: $242.08 per dry tonne), up by 235 yuan per wmt
Key drivers
Bullish steel prices helped drive iron ore prices to new historical high levels, sources told Fastmarkets.

One trading source in Singapore said billet...

Published

Zihao Yu

May 10, 2021

11:30 GMT

Singapore