IRON ORE DAILY: Market mixed over Australia port accident, yuan appreciation

January 11, 2019 / www.metalbulletin.com / Article Link

Iron ore prices were mixed on Thursday January 10 following news of the Chinese yuan's appreciation against the US dollar and reports of a port fire in Australia.

MB 62% Fe Iron Ore Index: $73.36 per tonne cfr Qingdao, down $0.54 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.50 per tonne cfr Qingdao, down $0.54 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.17 per tonne cfr Qingdao, down $0.51 per tonne. MB 58% Fe Premium Index: $66.01 per tonne cfr Qingdao, down $0.51 per tonne. MB 65% Fe Iron Ore Index: $87.70 per tonne cfr Qingdao, down $0.40 per tonne. MB 62% Fe China Port Price Index: 572 yuan per wet metric tonne (implied 62% Fe China Port Price $74.68 per dry tonne), down 2 yuan per wmt. Key drivers Some market participants said they expected to see support for higher iron ore prices after a fire early on Thursday morning at Rio Tinto's Cape Lambert operations in Pilbara, Western Australia. A company spokesman confirmed that emergency services had responded to the incident at Cape Lambert and that the fire had been safely brought...

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