Benchmark: 62% Fe fines, CFR Qingdao (SGX-settled). The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential.
| Origin | Basis | Price | vs benchmark | Market note |
|---|---|---|---|---|
🇨🇳 Qingdao delivered China · benchmark | CFR Qingdao | 118.75 | Benchmark | The seaborne reference all origins net back from |
🇦🇺 Pilbara Australia · ~900 Mt/yr | FOB Port Hedland | 110.95 | -7.800 (-6.6%)stable | Short freight leg to China — tightest netback |
🇧🇷 Tubarão Brazil · ~350 Mt/yr | FOB Tubarão | 100.15 | -18.60 (-15.7%)narrowing | Long freight; Carajás 65% Fe trades at a quality premium over this |
🇮🇳 Goa 58% Fe India · swing supply | FOB Goa | 91.75 | -27.00 (-22.7%)widening | Low-grade discount widens when mills chase productivity |
Differentials are indicative desk assessments over the live benchmark — 90-day spread trend shown per origin.
Track physical flows on the live vessel map →Indicative term structure · Backwardation
Converted from 118.75 USD/t · indicative FX
Iron Ore 62% Fe is traded in the bulk / ore segment, with price discovery referenced against SGX. The chart above shows the trailing 6-month indicative price path. Physical parcels of Iron Ore 62% Fe can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
62% Fe fines eased as mill profitability narrowed and port inventories held elevated, capping restocking appetite ahead of maintenance season.
Robust West Africa bauxite and Brazilian ore cargoes tightened Capesize availability, lifting time-charter equivalents across key routes.