Iron ore prices increased on Monday January 18, supported by a news of a record-high GDP in China for 2020 and supply concerns after a fire at Vale's Ponta da Madeira terminal in northern Brazil.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $174.07 per tonne, up $0.38 per tonne
62% Fe low-alumina fines, cfr Qingdao: $174.66 per tonne, up $0.53 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.89 per tonne, up $1.20 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $195.30 per tonne, up $0.40 per tonne
62% Fe fines, fot Qingdao: 1168 yuan per wet metric tonne (
implied 62% Fe China Port Price: $168.15 per dry tonne), up by 7 yuan per wmt
Key drivers
The most-trade iron ore futures May contract on Dalian Commodity Exchange (DCE) increased sharply after Monday's opening and remained stable at intra-day high level through the day, ending up by 2.1% from last Friday's closing price of 1,053 yuan ($163) per tonne.
Iron ore forward-month swaps contracts on...