Seaborne iron ore prices were largely rangebound on Tuesday October 20 but the shortage of iron ore carajas (IOCJ) fines prompted strong trade, market sources said.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $119.61 per tonne, up $0.08 per tonne
62% Fe low-alumina fines, cfr Qingdao: $120.05 per tonne, up $0.15 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $111.15 per tonne, up $0.71 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $133.00 per tonne, up $0.70 per tonne
62% Fe fines, fot Qingdao: 886 yuan per wet metric tonne (
implied 62% Fe China Port Price: $122.46 per dry tonne), up by 1 yuan per wmt
Key drivers
There has been a shortage of IOCJ fines for at least one month and with winter sintering restrictions, some mills are seeking the high-grade raw...