Seaborne iron ore concentrate, and pellet prices continued to rise in the week ended Friday June 11 on gains in the futures market.
Fastmarkets iron ore indices
Pellet premium over 65% Fe fines, cfr China: $62.80 per tonne, up $2 per tonne
66% Fe concentrate, cfr Qingdao: $237.13 per tonne, up $5.12 per tonne
65% Fe blast furnace pellet, cfr Qingdao: $297.69 per tonne, up $6.70 per tonne
Key drivers
The uptrend experienced by futures contracts on the Singapore Exchange and the Dalian Commodity Exchange (DCE) during the week kept prices for physical iron ore strong. Prices for both iron ore concentrate and pellets rose further last week to build on the previous week's rebound, sources told Fastmarkets.
The most-traded September iron ore futures contract on the DCE closed at 1,247 yuan ($195) per tonne on last Friday, up by 6.7% week on week.
A Singapore-based buyer source said that trading activity for...