IRON ORE DAILY: Prices up after DCE futures hit yearly high

Iron ore futures price reached the yearly high on the Dalian Commodity Exchange on Thursday November 19 and physical prices also increased, sources told Fastmarkets, with the decrease in steel inventory supporting, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $127.89 per tonne, up $1.55 per tonne
62% Fe low-alumina fines, cfr Qingdao: $128.36 per tonne, up $1.78 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $117.70 per tonne, up $1.40 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $139.70 per tonne, up $1.10 per tonne
62% Fe fines, fot Qingdao: 909 yuan per wet metric tonne (implied 62% Fe China Port Price: $128.44 per dry tonne), up by 7 yuan per wmt
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) reached a new 2020 peak at 886 yuan ($135) per tonne in the afternoon before falling back and ending the day at 876.50 yuan per tonne, the highest close price...

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