Iron ore prices edged up on Monday July 26 due to higher steel prices, while news of production cuts in China affected the market, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $202.74 per tonne, up by $1.41 per tonne
62% Fe low-alumina fines, cfr Qingdao: $203.93 per tonne, up by $1.07 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $167.65 per tonne, up by $2.20 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $237.00 per tonne, up by $0.90 per tonne
62% Fe fines, fot Qingdao: 1,411 yuan ($217.62) per wet metric tonne (implied
62% Fe China Port Price: $203.92 per dry tonne), up by 19 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) fluctuated both in today's morning and afternoon sessions, before closing up by 1.1% from Friday's closing price of 1,124 yuan ($173) per tonne.
The...