Seaborne iron ore prices rose on Thursday October 14 amid active trading activity in the spot market and at Chinese ports because of a slight increase in buying interest, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $125.91 per tonne, up by $1.74 per tonne
62% Fe low-alumina fines, cfr Qingdao: $127.60 per tonne, up by $2.51 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $94.93 per tonne, up by $1.89 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $150.60 per tonne, up by $2.20 per tonne
62% Fe fines, fot Qingdao: 899 yuan per wet metric tonne (
implied 62% Fe China Port Price: $129.27 per dry tonne), down by 5 yuan per wmt.
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) was largely stable, inching up by 0.7% from Wednesday's closing price of 731 yuan ($113) per tonne.
The iron ore forward-month swaps contracts on the Singapore Exchange (SGX) were on a slight upward trend. By 6.17pm Singapore...