IRON ORE DAILY: Prices weaken amid declining futures

Physical iron ore prices softened on Friday May 25 amid declining futures despite gains in the steel market.

Metal Bulletin 62% Fe Iron Ore Index: $63.94 per tonne cfr Qingdao, down by $2.44 per tonne Metal Bulletin 58% Fe Premium Index: $52.72 per tonne cfr Qingdao, down by $0.33 per tonne Metal Bulletin 65% Fe Iron Ore Index: $83.40 per tonne cfr Qingdao, down by $0.60 per tonne Metal Bulletin 62% Fe China Port Price Index: 461 yuan per wet tonne (implied 62% Fe China Port Price $63.11 per dry tonne), down by 7 yuan per tonne Key drivers China’s ferrous futures largely trended downward during the day, with the benchmark iron ore contract ending 0.7% lower than the preceding day’s settlement...

Published

July Zhang

May 25, 2018

12:12 GMT

Singapore