IRON ORE MONTHLY: 65% Fe prices breach $100-per-tonne level again as 2019 ends

Prices for 62% Fe iron ore experienced a gradual recovery as 2019 came to an end, rising to the $90-per-tonne level, while the high-grade 65% Fe segment even breached $100 per tonne.

Traded volumes for the Singapore Exchange's 65% Fe futures contract, which is settled against Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, amounted to 1.994 million tonnes in December. For the whole of 2019, traded volumes for the 65% Fe derivatives totaled close to 20 million tonnes.
"It is the festive season and many participants typically aim to withdraw their capital at the year-end. That is the major factor that dampens the trading of derivatives," a broker based in Shanghai noted.

Price movements
Fastmarkets' daily price assessment for steel reinforcing bar (rebar), domestic, ex-whs eastern China averaged 3,829-3,861 yuan ($550-554) per tonne. Range's midpoint is down 1.3% month on month.

But despite Chinese mills narrower margins in December, a lower supply of Brazilian fines...

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