Seaborne iron ore prices increased on Monday September 27 because pre-holiday restocking activities at China's ports boosted market sentiment after price declines in the past two weeks.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $119.31 per tonne, up $7.98 per tonne
62% Fe low-alumina fines, cfr Qingdao: $121.10 per tonne, up $7.32 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $89.07 per tonne, up $5.99 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $143.60 per tonne, up $7.70 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1150 per dry metric tonne unit (dmtu), up $0.1050 per dmtu
62% Fe fines, fot Qingdao: 870 yuan per wet metric tonne (implied
62% Fe China Port Price: $124.39 per dry tonne), up by 56 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) trended upward...