Iron ore prices were relatively stable on Thursday July 30, encouraging trading in both the seaborne market and at ports in China.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $110.58 per tonne, up $0.01 per tonne
62% Fe low-alumina fines, cfr Qingdao: $112.94 per tonne, down $0.04 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $97.99 per tonne, up $0.58 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $122.30 per tonne, down $0.20 per tonne
62% Fe fines, fot Qingdao: 860 yuan per wet metric tonne (
implied 62% Fe China Port Price: $113.61 per dry tonne), up by 1 yuan per wmt
Key drivers
The Dalian Commodity Exchange iron ore futures market cooled after yesterday's surge, with the most-traded September futures contract closing down by 0.18%.
But the iron ore swaps for August and September on the Singapore Exchange increased by $0.12 and $ 0.11 per tonne respectively by 6pm.
Fortescue Metals Group (FMG) released the production report...