Seaborne iron ore prices were up on Thursday September 3 amid market anticipation of a healthy demand outlook for steel, trade sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $129.92 per tonne, up $2.61 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $130.17 per tonne, up $2.27 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $115.23 per tonne, up $4.01 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $141.90 per tonne, up $1.90 per tonne.
62% Fe fines, fot Qingdao: 957 yuan per wet metric tonne (
implied 62% Fe China Port Price: $130.07 per dry tonne), up by 5 yuan per wmt
Key drivers
Market sources expect the outlook for steel to remain healthy, largely due to the seasonal strong demand for hot-rolled-coil (HRC).
Steelmakers are still very focused on producing their steel products, which has led to strong demand for iron ore, one buyer source in north China said.
The most-traded January HRC futures contract on the Shanghai Futures...