Seaborne iron ore price surges on firm downstream steel demand

摘要

Singapore—Seaborne iron ore prices climbed April 26 as Chinese steel prices rose over the weekend on continued strength in steel margins from robust downstream demand. S&P Global Platts assessed the 62% Fe Iron Ore Index at $191.45/ dry mt CFR North China on April 26, up $6.35/dmt from April 23. The front-month May 62% Fe derivatives were up $6.60/dmt from April 23 to $187.70/dmt on April 26. Market sources continued to see demand for higher grade raw material as steel margins rose steadily. Mills were still prioritizing production efficiency to keep up with the downstream demand for steel.