Iron ore prices track upward movement in futures, but weak demand stifles activity
Seaborne iron ore prices rose on Thursday November 11, tracking the upward movements in Chinese futures and front-month swaps contracts, but most market participants remained cautious because of weak demand for physical iron ore, sources told Fastmarkets.
Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $92.57 per tonne, up $3.67 per tonne
62% Fe low-alumina fines, cfr Qingdao: $94.03 per tonne, up $4.40 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $65.59 per tonne, up $4.36 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $109.20 per tonne, up $4.80 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1100 per dry metric tonne unit (dmtu), down $0.0400 per dmtu
62% Fe fines, fot Qingdao: 629 yuan per wet metric tonne (implied 62% Fe China Port Price: $89.98 per dry tonne), up by 12 yuan per wmt
Iron ore prices track upward movement in futures, but weak...
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