Spot iron ore closes in on $75/dmt mark this week

23-Oct-2018

Spot iron ore prices closed in on $75/dmt mark as the Chinese mills kept the sentiments buoyed by the increased buying activities. However, the prices closed lower for week after peaking on Thursday.

Onto the benchmark for seaborne spot iron ore prices, Platts assessed the 62% Fe IODEX & TSI Iron Ore Fines at $73.45/dmt CFR North China on Friday. Meanwhile, TSI 58% Fe Fines, 1.5% Al, CFR Qingdao port closed the week at $64.20/dmt.

At Shanghai Futures Exchange, the most actively traded January rebar on the Shanghai Futures Exchange closed down 2.4 percent at 4,055 yuan ($585) a tonne. Hot rolled coil dropped 1.4 percent to 3,860 yuan.

Furthermore, at Dalian Commodity Exchange, the most-traded iron ore on the Dalian Commodity Exchange fell 1.6 percent to 515 yuan a tonne. Coking coal slid 2.6 percent to 1,356 yuan a tonne and coke slumped 3.9 percent to 2,353.50 yuan.