IRON ORE DAILY: Support from mills prompts short-term increase in seaborne iron ore prices

Seaborne iron ore prices rose on Tuesday October 26 amid some short-term positivity in demand for iron ore, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $122.30 per tonne, up $3.22 per tonne
62% Fe low-alumina fines, cfr Qingdao: $124.11 per tonne, up $3.63 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $94.41 per tonne, up $3.44 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $143.20 per tonne, up $3.30 per tonne
62% Fe fines, fot Qingdao: 860 yuan per wet metric tonne (implied 62% Fe China Port Price: $124.58 per dry tonne), up by 3 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) gradually rose during trading on Tuesday, ending the session up by 3.8% from Monday’s closing price of 688.50 yuan ($108) per tonne.

Iron...

Published

Alex Theo

October 26, 2021

11:21 GMT

Singapore