iron ore price, page-112

62% Fe fines: US$ 110.1 /dry metric tonne (-1.3%)
58% Fe fines: US$ 99.1 /dry metric tonne (+0.2%)

62%Fe To Date Averages:

Month to date: US$112.09
Quarter to date: US$122.33

The iron ore spot market was relatively quiet compared with yesterday. A cargo of Australian 62% Fe “MNP” fines for April delivery traded on globalORE below index levels, while A Brazilian miner held a tender for 62.5% Fe fines, inviting bids on an indexlinked basis.

Privately, Australian 61% Fe PB fines was trading at around 108-109, with offers at a similar price. Other offers on globalORE for mainstream Australian 62% Fe fines were at around 110-111. In China, some traders lifted offers for quayside stocks of imported material, but we rewarded with tepid buying interest. Iron ore and rebar futures on the domestic Chinese exchanges were both relatively stable. Spot rebar in the Shanghai market rose RMB 10/t. Have a nice weekend.