IRON ORE DAILY: Seaborne prices retreat after previous day's rally

Seaborne iron ore prices fell back on Wednesday July 10, after buyers appeared to adopt a wait-and-see stance in response to rising steel product inventories.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao: $120.96 per tonne, down $0.61 per tonne.
Fastmarkets’ index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $120.88 per tonne, down $0.61 per tonne.
Fastmarkets’ index for iron ore 62% Fe low alumina fines, cfr Qingdao: $122.38 per tonne, down $1.12 per tonne.
Fastmarkets’ index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $109.89 per tonne, down $1.96 per tonne.
Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $128.40 per tonne, down $0.20 per tonne.
Fastmarkets’ index for iron ore 62% Fe fines, fot Qingdao: 890 yuan per wet metric tonne (implied 62% Fe China Port Price $119.68 per dry tonne), down 13 yuan per wmt.
Key drivers

Seaborne iron ore prices were weaker as market participants...

Published

July Zhang

Alex Theo

July 10, 2019

12:41 GMT

Singapore