Seaborne iron ore prices at six-year high

摘要

Singapore—Seaborne iron ore prices reached a six-year high at $127.60/dmt on firm procurement demand and a bullish steel outlook in China. S&P Global Platts assessed the 62% Fe Iron Ore Index at $127.60/ dry mt CFR North China on Aug. 18, up $5.70/dmt from Aug. 17. The front-month September TSI swap was up $5.95/dmt from Aug. 17 at $122.90/dmt on Aug. 18. Market participants said the strength in physical iron ore prices stemmed from an expectation of firm steel demand in China, which would continue supporting raw material procurement needs.