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It is reported that following the deadly massive explosion near the Tianjin port, China where serves one of the largest logistics hubs of iron ore and steel products in China, the impact on trade through the major iron ore and steel terminal remains uncertain but some short-term restrictions on flows of iron ore from port stocks and steel leaving the port are expected. 

The seaborne iron ore prices and Chinese steel futures prices gained in tandem on Thursday after a massive explosion at Tianjin port raise concerns over supply. 

The index for 62% Fe Australian fines surged US$1.64/dry ton on Thursday to US$54.76/dry ton CFR Qingdao.

• [Editor:Sophie]