Seaborne iron ore hovers around $75/dmt mark

19-November-2018

Spot iron ore prices in the seaborne market see sawed this week closing around $75/dmt mark as participants anticipated some demand for key steelmaking raw material during the winter season. Steel markets in China experienced increasing supplies which kept the markets steady supported by falling stockpiles.

Looking at the benchmark for seaborne spot iron ore prices, Platts assessed the 62% Fe IODEX & TSI Iron Ore Fines at $75.10/dmt CFR North China on Friday. Meanwhile, TSI 58% Fe Fines, 1.5% Al, CFR Qingdao port closed the week at $66.80/dmt.

Benchmark Shanghai rebar prices closed 0.4 percent lower to 3,884 yuan ($559.57) a ton when market closed. The hot-rolled coil contract rose 0.6 percent to 3,624 yuan. The most-traded Dalian coking coal futures, for January delivery, climbed 1.8 percent to 1,385 yuan a ton, while coke prices advanced as much as 3.4 percent to 2,432 yuan. Dalian iron ore futures rose 2.1 percent to 521 yuan a ton.