Iron ore prices increased slightly on Friday August 6 after a slump on Thursday, although overall sentiment remains bearish, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $172.51 per tonne, up $0.96 per tonne
62% Fe low-alumina fines, cfr Qingdao: $173.53 per tonne, up $0.77 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $139.23 per tonne, up $2.95 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $203.30 per tonne, down $0.20 per tonne
62% Fe fines, fot Qingdao: 1,248 yuan per wet metric tonne (implied
62% Fe China Port Price: $180.45 per dry tonne), unchanged
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) fluctuated in Thursday night's session, increased on Friday morning but dropped in the afternoon session before finally closing up by 0.7% from Thursday's close of 888.50 yuan ($137) per tonne.
The most-traded September iron ore forward-month swap contract on the Singapore Exchange (SGX) also...