IRON ORE DAILY: Healthy steel margins boost seaborne prices

Iron ore prices surged on Tuesday April 20 amid strong mill results, which reflect very healthy margins, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $189.61 per tonne, up $7.81 per tonne
62% Fe low-alumina fines, cfr Qingdao: $190.03 per tonne, up $7.48 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $164.40 per tonne, up $6.91 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $222.80 per tonne, up $6.50 per tonne
62% Fe fines, fot Qingdao: 1,233 yuan per wet metric tonne (implied 62% Fe China Port Price: $176.81 per dry tonne), up by 6 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5800 per dry metric tonne unit (dmtu), up $0.0050 per dmtu.
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Comment: Premium now US$11 per Fe percentage which puts Bloom Lake 66% Fe at US$233/t