IRON ORE DAILY: Prices drop on thin trading after futures, swaps losses

Seaborne iron ore prices fell significantly on Monday February 25 amid limited trading activity after losses in the futures and swaps markets.

MB 62% Fe Iron Ore Index: $84.84 per tonne cfr Qingdao, down $1.81 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.24 per tonne cfr Qingdao, down $1.81 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $86.42 per tonne cfr Qingdao, down $2.01 per tonne. MB 58% Fe Premium Index: $76.94 per tonne cfr Qingdao, down $0.26 per tonne. MB 65% Fe Iron Ore Index: $96.90 per tonne cfr Qingdao, down $2.60 per tonne. MB 62% Fe China Port Price Index: 631 yuan per wet metric tonne (implied 62% Fe China Port Price $83.68 per dry tonne), down 1 yuan per wet metric tonne. Key drivers China’s steel and iron ore futures largely trended down at the start of the week, with the benchmark iron ore contract leading losses. The March and April 62% Fe swaps contracts on the Singapore Exchange also fell by more than $2 per tonne. The...

Published

July Zhang

Alex Theo

February 25, 2019

12:23 GMT

Beijing