IRON ORE DAILY: Seaborne prices up on active spot trading, increased demand

Seaborne iron ore prices rose on Thursday October 14 amid active trading activity in the spot market and at Chinese ports because of a slight increase in buying interest, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $125.91 per tonne, up by $1.74 per tonne
62% Fe low-alumina fines, cfr Qingdao: $127.60 per tonne, up by $2.51 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $94.93 per tonne, up by $1.89 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $150.60 per tonne, up by $2.20 per tonne
62% Fe fines, fot Qingdao: 899 yuan per wet metric tonne (implied 62% Fe China Port Price: $129.27 per dry tonne), down by 5 yuan per wmt.
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) was largely stable, inching up by 0.7% from Wednesday’s closing price of 731 yuan ($113) per tonne.

The iron ore forward-month swaps contracts on the Singapore Exchange (SGX) were on a slight upward trend. By 6.17pm Singapore...

Published

Alex Theo

October 14, 2021

12:00 GMT

Singapore