IRON ORE DAILY: Active pre-holiday restocking supports prices

Iron ore prices were mostly higher on Monday September 28 due to active buying in the physical market by mills who were restocking ahead of the week-long National Day holidays in China, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $116.15 per tonne, up $0.94 per tonne
62% Fe low-alumina fines, cfr Qingdao: $116.15 per tonne, up $0.41 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $106.75 per tonne, down $1.18 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $128.50 per tonne, up $0.50 per tonne 
62% Fe fines, fot Qingdao: 897 yuan per wet metric tonne (implied 62% Fe China Port Price: $121.75 per dry tonne), down by 6 yuan per wmt
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) increased sharply in the morning trading session soon after opening, before steadily falling and rebounding in the afternoon to close up 0.7% compared...

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