IRON ORE DAILY: Seaborne prices buck downward trend amid firmer steel values

Iron ore prices rose on Friday May 28 amid strong semi-finished and finished steel prices, driven by firmer demand from end users, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $190.51 per tonne, up $0.78 per tonne
62% Fe low-alumina fines, cfr Qingdao: $192.67 per tonne, up $1.77 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $162.80 per tonne, up $0.42 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $224.90 per tonne, up $1.30 per tonne
62% Fe fines, fot Qingdao: 1,314 yuan per wet metric tonne (implied 62% Fe China Port Price: $192.61 per dry tonne), unchanged
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5550 per dry metric tonne unit (dmtu), up $0.0650 per dmtu.
Key drivers

The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) trended largely flat...

Published

Alex Theo

May 28, 2021

11:55 GMT

Singapore