IRON ORE DAILY: Steel uptick supports raw material prices but near-term concerns linger

Iron ore prices increased across the board on Friday June 25, boosted by an increase in downstream steel prices.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $216.45 per tonne, up $2.99 per tonne
62% Fe low-alumina fines, cfr Qingdao: $218.75 per tonne, up $1.67 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $187.16 per tonne, up $3.30 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $250.70 per tonne, up $1.40 per tonne
62% Fe fines, fot Qingdao: 1,515 yuan per wet metric tonne (implied 62% Fe China Port Price: $219.42 per dry tonne), up by 19 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) fluctuated in the morning and gained in the afternoon session before ending up by 1.8% from yesterday’s closing price of 1,164.50 yuan ($180) per tonne.

The most-traded July iron ore forward-month swap contract on the...

Published

Min Li

June 25, 2021

12:17 GMT

Shanghai