Iron ore prices rose on Tuesday June 1 continuing the upward trend from Monday amid firmer demand and a return of liquidity to both the physical spot market and at the Chinese ports, sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $208.67 per tonne, up $9.84 per tonne
62% Fe low-alumina fines, cfr Qingdao: $211.04 per tonne, up $9.78 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $181.00 per tonne, up $8.15 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $239.90 per tonne, up $7.10 per tonne
62% Fe fines, fot Qingdao: 1,431 yuan per wet metric tonne (
implied 62% Fe China Port Price: $210.63 per dry tonne), up by 36 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.4850 per dry metric tonne unit (dmtu), down $0.0400 per dmtu.
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) trended up over the trading session, ending up by 5.7%...