Iron ore prices fell over the period amid weakening steel
and futures markets, after two weeks of gains. Metal
Bulletin’s 62% Fe Iron Ore Index reached $86.72
per tonne cfr Qingdao on Friday March 10, down from $91.32 per
tonne cfr a week earlier. But the physical iron ore market
became steadier on Friday as futures and steel prices
stabilised and expectations grew for demand to pick up next
week as production cuts in north China come to an end.
Meanwhile, Metal Bulletin’s index for premium
hard coking coal was stable during the week at $166.96 per
tonne cfr China, while the index for Australia’s
premium hard coking coal declined to $157.13 per tonne fob on
Friday from $159.03 per tonne fob on Monday. The ability of
traders to seek out demand in China, where some hurdles have
emerged against imports in one province, will determine the
course of the seaborne coking coal market next week.