Iron ore prices edged up on Wednesday February 3, supported by an increase in inquiries from steel mills intending purchase, although trading activity was still limited, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $152.65 per tonne, up $2.85 per tonne
62% Fe low-alumina fines, cfr Qingdao: $152.90 per tonne, up $2.53 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $138.98 per tonne, down $0.30 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $175.50 per tonne, up $2.50 per tonne
62% Fe fines, fot Qingdao: 1062 yuan per wet metric tonne (
implied 62% Fe China Port Price: $152.97 per dry tonne), down by 28 yuan per wmt
Key drivers
The most-trade iron ore futures May contract on Dalian Commodity Exchange (DCE) increased sharply after opening on Wednesday and, despite some retracement through the day, it ended up by 1.6% from Tuesday's...