Prices for seaborne iron ore pellets and concentrate rebounded in the week ended Friday June 4 following an uptrend in the futures market despite limited liquidity.
Fastmarkets iron ore indices
Iron ore pellet premium over 65% Fe fines, cfr China: $60.80 per tonne, down $0.20 per tonne.
65% Fe blast furnace pellet, cfr Qingdao: $290.99 per tonne, up $11.17 per tonne.
66% Fe concentrate, cfr Qingdao: $232.01 per tonne, up $18.10 per tonne.
Key driversGains recorded by the futures contracts on the Singapore Exchange and the Dalian Commodity Exchange (DCE) during the week contributed to price increases in the physical iron ore market. As a result, prices for both pellets and concentrate also rebounded, sources told Fastmarkets.
The most-traded September iron ore futures contract on the DCE closed at 1,168.50 yuan ($183) per tonne on last Friday, up by 9.9% week on week.
A trading source in Shanghai said the uptrend in the futures market boosted prices...