IRON ORE DAILY: Seaborne prices dip amid weaker futures, buyer caution

Seaborne iron ore prices slipped on Thursday December 6, with futures and swaps markets weakening, while buyers remained cautious over big tonnages.

MB 62% Fe Iron Ore Index: $66.59 per tonne cfr Qingdao, down $0.79 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.86 per tonne cfr Qingdao, down $0.79 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $70.13 per tonne cfr Qingdao, down $1.08 per tonne. MB 58% Fe Premium Index: $60.95 per tonne cfr Qingdao, down $0.90 per tonne. MB 65% Fe Iron Ore Index: $82.70 per tonne cfr Qingdao, down $0.70 per tonne. MB 62% Fe China Port Price Index: 536 yuan per wet metric tonne (implied 62% Fe China Port Price $68.70 per dry tonne), down by 2 yuan per wmt. Key drivers China’s steel and iron ore futures have retreated after brief gains posted on Wednesday afternoon, while iron ore swaps on the Singapore Exchange also dropped on Thursday. Market participants described spot iron ore trading activity at Chinese ports as “not bad” during the day, however, and prices were stable or only moderately...

Published

July Zhang

Alex Theo

December 06, 2018

12:48 GMT

Shanghai, Singapore