IRON ORE DAILY: Prices drop amid market lull, China restrictions

Iron ore prices continued to fall on Monday March 11, with buyers cautious amid retreats in the futures and swaps markets.

MB 62% Fe Iron Ore Index: $83.79 per tonne cfr Qingdao, down $1.98 per tonne. MB 62% Fe Pilbara Blend Fines Index: $83.19 per tonne cfr Qingdao, down $1.98 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $85.66 per tonne cfr Qingdao, down $2.59 per tonne. MB 58% Fe Premium Index: $74.36 per tonne cfr Qingdao, down $1.52 per tonne. MB 65% Fe Iron Ore Index: $95.40 per tonne cfr Qingdao, down $3.20 per tonne. MB 62% Fe China Port Price Index: 620 yuan per wet metric tonne (implied 62% Fe China Port Price $82.09 per dry tonne), down 10 yuan per wmt. MB 63% Fe Australian Lump Premium: $0.3800 per dry metric tonne unit, up $0.0100 per dmtu. Key drivers China’s ferrous futures recorded losses on Friday March 8 and largely sustained the downtrend on Monday, with the benchmark iron ore contract ending 3% lower than Friday’s settlement. Iron ore swaps on the...

Published

July Zhang

Alex Theo

March 11, 2019

13:29 GMT

Shanghai, Singapore