IRON ORE DAILY: Strong steel market supports price rises despite China's tougher sintering restrictions

Iron ore prices increased in both the futures and seaborne markets on Monday November 9, sources told Fastmarkets, supported by rising steel prices and despite stronger sintering restrictions in China's steelmaking hub of Tangshan.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $121.75 per tonne, up $3.95 per tonne
62% Fe low-alumina fines, cfr Qingdao: $122.25 per tonne, up $4.22 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $111.94 per tonne, up $3.19 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $134.00 per tonne, up $4 per tonne
62% Fe fines, fot Qingdao: 881 yuan per wet metric tonne (implied 62% Fe China Port Price: $123.26 per dry tonne), up by 14 yuan per wmt
Key drivers

The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) surged to an intra-day high of 827 yuan ($125) per tonne in the morning, but remained relatively stable through the...

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