Iron ore gains on supply concerns: sources

摘要

Singapore—The seaborne iron ore market extended gains Friday on expectations of less iron ore supply in January, and improved market sentiment. S&P Global Platts assessed the 62% Fe Iron Ore Index at $93.90/dry mt CFR North China Friday, up $0.70/dmt from Thursday. The front-month February TSI swap was up $0.75/dmt from Thursday at $92.50/dmt Friday. Quayside iron ore stocks fell 1.8 million mt on the week to 125 million mt this week, and sources said that most of cargoes sold at ports were bought by steel mills.