IRON ORE DAILY: Fines, lumps weaken on mounting concerns over production cuts

Prices for seaborne Australian iron ore fines and lumps fell slightly on Wednesday July 11 while more details emerged over possible measures to cut emissions in China’s steelmaking hub.

Metal Bulletin 62% Fe Iron Ore Index: $63.34 per tonne cfr Qingdao, down $0.57 per tonne Metal Bulletin 62% Fe Pilbara Blend fines Index: $62.16 per tonne cfr Qingdao, down $0.66 per tonne Metal Bulletin 58% Fe Premium Index: $51.76 per tonne cfr Qingdao, down $0.04 per tonne Metal Bulletin 65% Fe Iron Ore Index: $90.80 per tonne cfr Qingdao, down $0.20 per tonne Metal Bulletin 62% Fe China Port Price Index: 466 yuan per wet metric tonne (implied 62% Fe China Port Price $61.18 per dry tonne), unchanged Metal Bulletin 63% Fe Australian Lump Premium: $0.3250 per dry metric tonne unit, down $0.0150 per dmtu Key drivers A second document outlining measures to cut pollution in north China’s Tangshan region was circulated among market participants on Wednesday, after one went around on Tuesday. The latest version provided guidelines for sectors including the steel industry during the July 20-August 31 period...

Published

July Zhang

July 11, 2018

12:30 GMT

Shanghai