Iron ore prices rise amid jitters over Omicron variant

Seaborne iron ore prices rose on Monday November 29 amid earlier jitters over the new strain of the Covid-19 virus reported over the weekend emerging from South Africa, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $103.27 per tonne, up $6.60 per tonne
62% Fe low-alumina fines, cfr Qingdao: $103.96 per tonne, up $6.40 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $75.52 per tonne, up $5.92 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $117.90 per tonne, up $6.50 per tonne
62% Fe fines, fot Qingdao: 683 yuan per wet metric tonne (implied 62% Fe China Port Price: $97.88 per dry tonne), up by 34 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) climbed gradually, closing up by 6.8% from last Friday’s closing price of 575.50 yuan ($90) per tonne.

The iron ore forward-month swap contracts on the Singapore Exchange...

Published

Alex Theo

November 29, 2021

11:35 GMT

Singapore