Seaborne iron ore prices advanced toward $95 per tonne cfr China on Friday January 3, with several deals concluded amid concerns over potential shipment disruptions in Australia as a result of a potential cyclone near the west coast.
62% Fe fines, cfr Qingdao: $94.60 per tonne, up $0.55 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $93.69 per tonne, up $0.55 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $94.98 per tonne, up $0.63 per tonne.
58% Fe fines high-premium, cfr Qingdao: $80.70 per tonne, up $0.95 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $106.50 per tonne, up $1.80 per tonne.
62% Fe fines, fot Qingdao: 692 yuan per wet metric tonne (
implied 62% Fe China Port Price: $91.16 per dry tonne), up 2 yuan per wmt.
Key drivers
A tropical low is likely to develop in the coming weekend in a monsoon trough that lies south of Indonesia, according to the Australian Bureau of Meteorology.
The chance of the system reaching tropical cyclone level would increase from Sunday...