Iron ore prices surged on Thursday February 18 on support from strong steel prices and positive sentiment regarding steel inventory, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $175.05 per tonne, up $8.17 per tonne
62% Fe low-alumina fines, cfr Qingdao: $175.50 per tonne, up $8.25 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.22 per tonne, up $7.56 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $198 per tonne, up $7.80 per tonne
62% Fe fines, fot Qingdao: 1,176 yuan per wet metric tonne (
implied 62% Fe China Port Price: $170 per dry tonne), up by 36 yuan per wmt
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) opened high on the first trading day after the Chinese New Year holiday and maintained at an intra-day high, ending up by...