Iron ore prices rose on Wednesday June 30 when concerns were raised about China's overall crude steel output for 2021, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $214.08 per tonne, up by $1.75 per tonne
62% Fe low-alumina fines, cfr Qingdao: $217.85 per tonne, up by $2.91 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $180.95 per tonne, up by $1.33 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $251.90 per tonne, up by $2.80 per tonne
62% Fe fines, fot Qingdao: 1,498 yuan per wet metric tonne (
implied 62% Fe China Port Price: $217.41 per dry tonne), up by 22 yuan per wmt
Key drivers
Supply concerns arose in market chatter about the overall crude steel output for 2021 being unlikely to exceed the output in 2020, prompting a rise in traded prices on both the Chinese futures on the Dalian Commodity Exchange (DCE) and the front-month swaps on the Singapore Exchange (SGX), market sources said.