Iron ore prices surge with mills’ resumption expectation, DCE futures hit price upper limit

Iron ore prices increased further on Tuesday November 23, supported by the likely production resumption at steel mills and bullish macro factors in China, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $99.83 per tonne, up $4.20 per tonne
62% Fe low-alumina fines, cfr Qingdao: $100.22 per tonne, up $4.25 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $72.03 per tonne, up $3.85 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $113.80 per tonne, up $4.60 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1000 per dry metric tonne unit (dmtu), unchanged
62% Fe fines, fot Qingdao: 657 yuan per wet metric tonne (implied 62% Fe China Port Price: $94.18 per dry tonne), up by 53 yuan per wmt
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) gained quickly after opening and reached the upper price limit of 598.50 yuan ($94) per tonne both in the morning and afternoon...

Published

Zihao Yu

November 23, 2021

11:43 GMT

Singapore