Spot iron ore moves up marginally

Spot iron ore moves up marginally

10th july 2018

Sea borne iron ore saw some upward movement on Friday, while the week saw iron ore inching lower as the demand remained somewhat sluggish. Some uptick in buying sentiments pushed the price up latter in the week as the inventory at the major ports fell and the futures firmed up.
Looking at the benchmark for seaborne iron ore prices, Platts assessed the 62% Fe IODEX & TSI Iron Ore Fines at $62.65/dmt CFR North China on Friday. Meanwhile, TSI 58% Fe Fines, 1.5% Al, CFR Qingdao port closed the week at $52.65/dmt.
Paper trade
Iron ore futures on the Dalian Commodity Exchange climbed Friday, with the most liquid September contract last trading at Yuan 459/dmt ($69.19/dmt), up 2.50/dmt on day, and settling at Yuan 457.50/dmt, up Yuan 2/dmt over the same period.
But steel rebar futures softened, with the most actively traded October contract in Shanghai Futures Exchange last traded at Yuan 3,780/mt ($569.83/mt), down Yuan 8/mt on day, and last settled at Yuan 3,770/mt, down Yuan 4/mt over the same period.