IRON ORE DAILY: Easing coke prices prompts demand for iron ore fines, seaborne prices rangebound movements

Seaborne iron ore prices movements were rangebound on Wednesday October 20 amid easing coking coal prices in China, which might have prompted some demand for low-mid grade iron ore fines, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $124.07 per tonne, up $0.03 per tonne
62% Fe low-alumina fines, cfr Qingdao: $125.21 per tonne, down $0.22 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $94.97 per tonne, up $1.45 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $147.00 per tonne, down $0.10 per tonne
62% Fe fines, fot Qingdao: 893 yuan per wet metric tonne (implied 62% Fe China Port Price: $129.22 per dry tonne), up by 3 yuan per wmt
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) rose during the night trading session on Tuesday and remained largely stable on Wednesday, inching up by 0.4% from Tuesday's closing price of 707 yuan...

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