May 2021

IRON ORE DAILY: Seaborne prices hit new record highs

Seaborne iron ore prices surged again to new record highs on Monday May 10 following bullish steel prices over the weekend, sources told Fastmarkets.

Iron ore pellet prices rise further on strengthening steel market

Prices for seaborne iron ore pellets continued to surge in the week ended Friday May 7 while those for concentrate were largely flat amid limited liquidity due to fewer trading days in China during the week due to a public holiday.

China’s iron ore imports up 3% in April

China imported 98.57 million tonnes of iron ore in April 2021, up by 3% from 95.71 million tonnes a year earlier, according to Chinese customs data released on Friday May 7.

IRON ORE DAILY: Carajas fines trade at new record high

Seaborne iron ore prices rose further on Friday May 7 with continuing support from bullish steel prices, refreshing the iron ore indices’ record highs again.

FOCUS: China's stricter steel capacity swap ratios to cool overheated raw materials markets

China’s new and stricter steel capacity swap ratios will cool the overheated steelmaking raw materials market and pave the way for more electric-arc furnaces to be used in its mammoth steel industry, market sources told Fastmarkets this week.

IRON ORE DAILY: Indices hit fresh historical highs

Fresh political tensions between China and Australia, along with strong steel prices, lent support to the sharp increases in seaborne iron ore prices on Thursday May 6, sources told Fastmarkets.

COMMENT: China's new ferrous tax regime to kickstart new era of steel

China's new tax regime for ferrous raw materials and steel exports will kick off a new era for the steel sector, one in which demand and supply will become more balanced and the country cuts its dependency on iron ore at a faster pace.

IRON ORE DAILY: Trading platform active but liquidity still weak

Iron ore trading platform Globalore went active with multiple offers and bids on Wednesday May 5 but the liquidity in the seaborne iron ore market was still weak because of the Labor Day holiday in China, which runs May 1-5.

PRICING NOTICE: Launch of spot 65% Fe iron ore pellet premium index quoted over 65% Fe fines

Fastmarkets will, on Friday May 7, launch a new weekly price index for the premium that high-quality 65% Fe blast furnace grade iron ore pellet commands on a spot basis above the 65% Fe Fines index.

PRICING NOTICE: Impurity range amendments for 65% Fe iron ore blast furnace pellet index

Fastmarkets is adjusting the impurity ranges for its 65% Fe iron ore blast furnace pellet index from Friday May 7.