Seaborne iron ore prices rose on Thursday February 6 amid concerns that a new cyclone will affect shipments from Western Australia, while Chinese port prices fell because of limited spot demand.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $83.17 per tonne, up by $1.86 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $82.50 per tonne, up by $2.35 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $84.27 per tonne, up by $1.73 per tonne.
58% Fe fines high-premium, cfr Qingdao: $70.98 per tonne, up by $1.40 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $97.60, up by $0.60 per tonne.
62% Fe fines, fot Qingdao: 607 yuan per wet metric tonne (
implied 62% Fe China Port Price: $79.25 per dry tonne), down by 24 yuan per wmt.
Key drivers
China's steel and iron ore futures retreated further on Thursday morning, amid persistent pessimism about downstream steel demand and iron ore consumption after the coronavirus outbreak in the country.
Some traders lowered their offers for Pilbara Blend...