Sentiment in the seaborne iron ore market improved on Wednesday January 27 because of an uptick in prices for steel products, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $166.59 per tonne, up $1.52 per tonne
62% Fe low-alumina fines, cfr Qingdao: $166.65 per tonne, up $0.46 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $152.22 per tonne, down $0.92 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $190.20 per tonne, up $1.00 per tonne
62% Fe fines, fot Qingdao: 1,156 yuan per wet metric tonne (implied
62% Fe China Port Price: $166.81 per dry tonne), down by 6 yuan per wmt
Key drivers
The most-traded iron ore futures May contract on the Dalian Commodity Exchange (DCE) spiked just before the close of the Tuesday...