Iron ore prices moved marginally up for the week

13-Aug-2018

Sea-borne iron ore prices saw an upside in the week despite of losing some pace on Friday. Positive sentiments observed during the first half of the week were marred by the declining steel production in China as indicated by CISA’s recent figures, which were the result of stepped up anti-pollution measures.

Onto the benchmark for seaborne spot iron ore prices, Platts assessed the 62% Fe IODEX & TSI Iron Ore Fines at $68.75/dmt CFR North China on Friday. Meanwhile, TSI 58% Fe Fines, 1.5% Al, CFR Qingdao port closed the week at $58.75/dmt.

Futures Market

Looking at the futures, iron ore futures traded on the Dalian Commodity Exchange were mixed on Friday, with the most liquid January contract last trading at Yuan 506.5/dmt ($70.06/dmt), down Yuan 7.5/dmt on the day, and settling at Yuan 512/dmt, up Yuan 2/dmt.

Similarly, the steel rebar futures were mixed on Friday, with the most actively traded October contract on the Shanghai Futures Exchange last traded at Yuan 4,200/mt ($614.08/mt), down Yuan 27/mt on the day, and settled at Yuan 4,232/mt, up Yuan 16/mt.

Sea-borne iron ore prices saw an upside in the week despite of losing some pace on Friday. Positive sentiments observed during the first half of the week were marred by the declining steel production in China as indicated by CISA’s recent figures, which were the result of stepped up anti-pollution measures.

Onto the benchmark for seaborne spot iron ore prices, Platts assessed the 62% Fe IODEX & TSI Iron Ore Fines at $68.75/dmt CFR North China on Friday. Meanwhile, TSI 58% Fe Fines, 1.5% Al, CFR Qingdao port closed the week at $58.75/dmt.

Futures Market

Looking at the futures, iron ore futures traded on the Dalian Commodity Exchange were mixed on Friday, with the most liquid January contract last trading at Yuan 506.5/dmt ($70.06/dmt), down Yuan 7.5/dmt on the day, and settling at Yuan 512/dmt, up Yuan 2/dmt.

Similarly, the steel rebar futures were mixed on Friday, with the most actively traded October contract on the Shanghai Futures Exchange last traded at Yuan 4,200/mt ($614.08/mt), down Yuan 27/mt on the day, and settled at Yuan 4,232/mt, up Yuan 16/mt.