IRON ORE DAILY: Indices surge to record highs

Strong steel demand and supply concerns following a landslide at Vale's C??rrego do Feij??o mine boosted iron ore futures price on Monday December 21, with the bullish sentiment pushing Fastmarkets' iron ore indices for 62% Fe low-alumina fines, cfr Qingdao and 65% Fe Brazil-origin fines, cfr Qingdao to new record highs.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $176.45 per tonne, up $12.06 per tonne
62% Fe low-alumina fines, cfr Qingdao: $177.83 per tonne, up $12.93 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $163.16 per tonne, up $10.71 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $190.10 per tonne, up $13.10 per tonne
62% Fe fines, fot Qingdao: 1,181 yuan per wet metric tonne (implied 62% Fe China Port Price: $168.56 per dry tonne), up by 100 yuan per wmt
Key drivers

Although the largest open interest in iron ore futures contracts on the Dalian Commodity Exchange remains in the May contract, the most-traded changed to the February contract,...

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