Sea-borne iron ore remained range bound



KATM Exclusive

Buying activities were thin in the sea-borne trade despite the demand for iron ore remaining steady and robust, as the port inventories in China declined marginally. Although, some fall in Chinese steel kept the iron ore prices rangebound.

Onto the benchmark prices of sea-borne iron ore, Platts assessed the 62% Fe IODEX & TSI Iron Ore Fines at $63.90/dmt CFR North China on Friday. Meanwhile, TSI 58% Fe Fines, 1.5% Al, CFR Qingdao port closed the week at $53.90/dmt.

Futures trade

Iron ore futures traded on the Dalian Commodity Exchange climbed Friday, with the most liquid September contract last trading at Yuan 457.50/dmt ($70.6/dmt), up Yuan 4.50/dmt on the day, and settling at Yuan 455/dmt, down Yuan 0.50/dmt over the same period.

Steel rebar futures went the opposite way, with the most actively traded October contract on the Shanghai Futures Exchange last traded at Yuan 3,760/mt ($580.21/mt), down Yuan 13/mt on the day, and last settled at Yuan 3,763/mt, down Yuan 45/mt over the same period.