Seaborne iron ore prices strengthened further on Thursday June 27, with trading activity on the Singapore Exchange's (SGX) 65% Fe iron ore derivative contract also picking up.
By 5.45pm Singapore time, 125,000 tonnes of the contract had been traded and cleared, according to SGX data. This compares with 175,000 tonnes traded in the whole of last week. MB 62% Fe Iron Ore Index: $118.02 per tonne cfr Qingdao, up $0.39 per tonne. MB 62% Fe Pilbara Blend Fines Index: $116.06 per tonne cfr Qingdao, up $0.39 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $118.97 per tonne cfr Qingdao, up $1.12 per tonne. MB 58% Fe Premium Index: $108.08 per tonne cfr Qingdao, up $3.55 per tonne. MB 65% Fe Iron Ore Index: $127.50 per tonne cfr Qingdao, up $0.90 per tonne. MB 62% Fe China Port Price Index: 860 yuan per wet metric tonne (implied 62% Fe China Port Price $115.61 per dry tonne), up 19 yuan per wet metric tonne. Key drivers Increased interest in derivatives trading came on a day when physical iron...