Iron ore prices moved up on Tuesday March 2 because of firmer prices for steel products, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $175.55 per tonne, up $1 per tonne
62% Fe low-alumina fines, cfr Qingdao: $175.70 per tonne, up $0.74 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.92 per tonne, up $0.83 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $198.80 per tonne, up $0.80 per tonne
62% Fe fines, fot Qingdao: 1,185 yuan per wet metric tonne (
implied 62% Fe China Port Price: $171.04 per dry tonne), up by 9 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.4550 per dry metric tonne unit (dmtu), down $0.0050 per dmtu.
Key drivers
The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) traded largely flat over the day before...