National lockdowns in India and South Africa raised concerns about supply in the seaborne iron ore market on Wednesday March 25 and caused prices to rise for two consecutive days after a massive drop on Monday.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $87.34 per tonne, up $3.37 per tonne
62% Fe low-alumina fines, cfr Qingdao: $88.82 per tonne, up $3.32 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $74.76 per tonne, up $1.59 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $103.40 per tonne, up $1.30 per tonne
62% Fe fines, fot Qingdao: 668 yuan per wet metric tonne (
62% Fe China Port Price: $86.59 per dry tonne), up 21 yuan per wmt.
Key drivers
According to Chinese customs data, South Africa and India are the third and fourth largest iron ore suppliers to China, accounting for 66.73 million tonnes of exports to China last...