Iron ore registered increases across the board on active seaborne trading on Wednesday January 6, with lump prices surging due to tight supplies, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $168.72 per tonne, up $0.86 per tonne
62% Fe low-alumina fines, cfr Qingdao: $168.75 per tonne, up $0.75 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $155.36 per tonne, up $0.71 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $186.10 per tonne, up $2 per tonne
62% Fe fines, fot Qingdao: 1143 yuan per wet metric tonne (
implied 62% Fe China Port Price: $165.06 per dry tonne), up by 3 yuan per wmt
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) began to slide after opening, but rebounded in the afternoon trading session to end the day down by just 0.5% from Tuesday's closing price of 1,039 yuan ($161) per tonne.
And iron ore...