Seaborne iron ore prices rose on Tuesday May 25, on support from a trading activity recovery in the physical market, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $192.87 per tonne, up $0.45 per tonne
62% Fe low-alumina fines, cfr Qingdao: $194.49 per tonne, up $0.62 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $165.02 per tonne, up $1.55 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $228.80 per tonne, up $4.50 per tonne
62% Fe fines, fot Qingdao: 1,353 yuan per wet metric tonne (
implied 62% Fe China Port Price: $197.1 per dry tonne), down by 23 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) fluctuated around the close over the day before ending the trading session down by 0.6% from the May 24 close of 1,064 yuan ($166) per tonne.
The most-traded June iron ore forward-month swap contract on the Singapore Exchange (SGX)...