Seaborne iron ore prices rose again on Friday May 15, supported by demand for crude steel production and increases in swaps and futures markets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $93.65 per tonne, up $1.48 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $96.33 per tonne, up $1.83 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $79.63 per tonne, up $1.25 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $110.10 per tonne, up $1.50 per tonne.
62% Fe fines, fot Qingdao: 706 yuan per wet metric tonne (
implied 62% Fe China Port Price: $91.31 per dry tonne), up 11 yuan per wmt.
Key drivers
According to the National Bureau of Statistics of China, the daily production of steel products in the country reached 356.7 million tonnes in April, up by 3.6% year on year, and up by 11.8% compared to March this year.
Meanwhile, a trading source in...