Iron ore prices went up on Thursday July 1 and there was market chatter about a crude steel production limit for 2021 in certain Chinese provinces, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $219.32 per tonne, up $5.24 per tonne
62% Fe low-alumina fines, cfr Qingdao: $221.75 per tonne, up $3.90 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $182.51 per tonne, up $1.56 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $252.40 per tonne, up $0.50 per tonne
62% Fe fines, fot Qingdao: 1,507 yuan ($233.83) per wet metric tonne (implied
62% Fe China Port Price: $219.07 per dry tonne), up by 9 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) rose in the morning trading session but retreated in the afternoon before closing up by 0.1% from Wednesday's close of 1,165 yuan per tonne.
The most-traded August iron ore forward-month swap contract on...