Spot iron ore inched marginal gains in seaborne market

4th june 2018

Sea borne iron ore prices depicted marginal gains in the latter half of the week supported by the sudden spurt in demand for the Brazilian low alumina material as the domestic iron ore concentrate production in China fell primarily due to environmental regulations.

Looking at the benchmark prices of sea-borne iron ore, Platts assessed the 62% Fe IODEX & TSI Iron Ore Fines at $64.70/dmt CFR North China on Friday. Meanwhile, TSI 58% Fe Fines, 1.5% Al, CFR Qingdao port closed the week at $52.70/dmt.

Iron ore and steel futures

Iron ore futures traded on the Dalian Commodity Exchange were mixed Friday, with the most liquid September contract last trading at Yuan 460/dmt ($71.79/dmt), down Yuan 2.50/dmt on the day, and settling at Yuan 464.50/dmt, up Yuan 3/dmt over the same period.

Steel rebar futures strengthened, with the most actively traded October contract in Shanghai Futures Exchange last traded at Yuan 3,734/mt ($582.73/mt), up Yuan 38/mt on the day, and last settled at Yuan 3,739/mt, up Yuan 68/mt over the same period.