Iron ore price jumps as Vale reports low output February 4, 2021
Iron ore futures jumped on Thursday, after Vale reported fourth-quarter output of 84.5 million tonnes, a 5% decline over the third quarter (when it generated 88.6 million tonnes).
According to Fastmarkets MB, benchmark 62% iron fines imported into northern China (CFR Qingdao) were changing hands for US$158.03 a tonne, up 3.5% from yesterday’s trade.
Iron ore on China’s Dalian Commodity Exchange ended daytime trading up 5.3% at 991 yuan (US$153.41) a tonne, after two days of losses.
A report that China’s central bank will keep liquidity reasonably ample to support economic recovery also buoyed sentiment.