Quayside iron ore prices at new high on strong fundamentals

摘要

Singapore—The Platts 62% Fe iron ore port stock index, or IOPEX North China, was assessed July 7 up 2.1% on the day at Yuan 897/wet mt FOT, or at $109.56/dry mt on an import parity basis, the highest this year and up 34.7% from the 2020 low of Yuan 666/wmt on February 10. Similarly the IOPEX East China was up 1.3% to Yuan 875/wmt FOT, or at $106.79/dmt on an import parity basis. Several Chinese traders and an end-user told S&P Global Platts that 61.5% Fe Pilbara Blend fines were traded at Yuan 800-805/wmt at Caofeidian and Jingtang ports and Yuan 784-785/wmt at Rizhao port.