IRON ORE DAILY: Supply concerns over steel output prompt firmer iron ore prices
Iron ore prices rose on Wednesday June 30 when concerns were raised about China’s overall crude steel output for 2021, sources told Fastmarkets.
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.
Metal Bulletin
65% Fe Brazil-origin fines, cfr Qingdao: $251.90 per tonne, up by $2.80 per tonne
Custeel
65% IO fines US$249.80?tonne pellet premium US$68.50/t
Pellet price US$318.30/tonne AUD$ 424.50/tonne
Grange's Iron ore pellets at A$427/tonne, page-74
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