Limited demand, weaker high-grade iron ore price adds to drag on seaborne iron ore conc prices

Seaborne iron ore concentrate prices dipped on Friday November 23 due to limited demand from major Chinese buyers and weakening high-grade iron ore prices.

The weekly Fastmarkets MB 66% Fe Iron Ore Concentrate Index stood at $95.27 per tonne cfr China on Friday, down by $4.02 per tonne from November 16.
The daily 65% Fe Iron Ore Index averaged $91.56 per tonne cfr China last week, compared with an average of $95.04 per tonne cfr China the previous week.
The fall in the Fastmarkets MB 66% Fe Concentrate Index (MBIOI-CO) was based on the visible market activity detailed below.
For the calculation of the MBIOI-CO, judgement was applied to carry over data in indices due to low liquidity, corresponding with published fallback measures.

Judgement was applied to...

Published

Deepali Sharma

July Zhang

Alex Theo

November 26, 2018

13:11 GMT

Singapore, Shanghai