Seaborne iron ore prices rose on Wednesday March 4, with the benchmark high-grade brand Iron Ore Carajas and benchmark low-grade, low-alumina Yandi fines attracting higher prices in the seaborne market amid persistent tight supply from Brazil and margins' concerns among steel mills.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $90.99 per tonne, up $2.44 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $91.93 per tonne, up $2.22 per tonne.
58% Fe fines high-premium, cfr Qingdao: $80.03 per tonne, up $2.65 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $106.50 per tonne, up $3.40 per tonne.
62% Fe fines, fot Qingdao: 661 yuan per wet metric tonne (
62% Fe China Port Price: $86.80 per dry tonne), down 3 yuan per wmt.
Key Drivers
The discount for low-alumina Yandi fines narrowed to under $3 per tonne during the day in the seaborne market, against a previous discount of over $5 per tonne, indicating buyers' preference for low-alumina and low Fe content materials.
Appetite for Brazilian high-grade Iron Ore Carajas brand was also underlined in the day's...