Fastmarkets pretty well nails it. FE 62% fines, cfr Qingdao US$158.54, up $1.12. Nice.

IRON ORE DAILY: Seaborne prices buck downtrend amid firm buying interest

Seaborne iron ore prices were up on Friday January 29 amid firmer buying interest, market sources told Fastmarkets.

Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $158.54 per tonne, up $1.12 per tonne
62% Fe low-alumina fines, cfr Qingdao: $159.05 per tonne, up $1.05 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $144.95 per tonne, up $1.14 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $182.60 per tonne, up $0.50 per tonne
62% Fe fines, fot Qingdao: 1,120 yuan per wet metric tonne (implied 62% Fe China Port Price: $161.52 per dry tonne), down by 15 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.3900 per dry metric tonne unit (dmtu), up $0.0050 per dmtu.

Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) traded largely flat for the entire session, eventually closing 0.5% higher compared with Thursday’s close price of 985.50 yuan ($152) per...

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