IRON ORE DAILY: Seaborne prices increase further with futures

Seaborne iron ore prices gained ground on Wednesday September 30 following the rise in futures prices, while the decrease in steel inventories and China's increasing manufacturing purchasing managers' index (PMI) also supported prices, according to sources.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $123.47 per tonne, up $5.86 per tonne
62% Fe low-alumina fines, cfr Qingdao: $123.49 per tonne, up $5.60 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $111.76 per tonne, up $3.17 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $134.40 per tonne, up $4.90 per tonne
62% Fe fines, fot Qingdao: 911 yuan per wet metric tonne (implied 62% Fe China Port Price: $123.82 per dry tonne),up by 5 yuan per wmt
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) increased sharply in the afternoon trading session, rebounding back above 800 yuan per tonne at the close...

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