Iron ore prices went up on Thursday June 17, supported by improved liquidity in the physical markets, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $220.82 per tonne, up $6.74 per tonne
62% Fe low-alumina fines, cfr Qingdao: $222.01 per tonne, up $5.46 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $188.48 per tonne, up $3.56 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $251.50 per tonne, up $6.50 per tonne
62% Fe fines, fot Qingdao: 1,514 yuan per wet metric tonne (
implied 62% Fe China Port Price: $222.03 per dry tonne), up by 1 yuan per wmt
Key drivers
A trading source in northern China told Fastmarkets that underground iron ore mining in certain cities in Shandong province - including Weifang, Linyi and Zaozhuang - had been ordered to stop until early/mid July, due to official concerns that supplies of domestic iron ore could be contributing to the improved trading liquidity especially at Chinese ports.