Seaborne iron ore prices rise on improved market sentiments

摘要

Singapore—Seaborne iron ore prices rallied as better market expectations for high grade fines boosted the sentiment. S&P Global Platts assessed the 62% Fe Iron Ore Index at $177.30/ dry mt CFR North China on April 15, up $4.65/dmt from April 14. The front-month May 62% Fe derivatives were up $5.75/dmt from April 14 to $172.20/dmt on April 15. Market sources saw a distinct price divide between mainstream ores with higher ferrous content and ores with higher impurity levels. "Mills are procuring any products that could maximize their production efficiency including high grade Carajas fines (IOCJ), Pilbara Blend fines (PBF), Brazilian Blend fines (BRBF), lump and pellet while interest for low-grade materials and discounted fines drop further," said a Chinese trader.