IRON ORE DAILY: Fall in demand weighs on seaborne prices

Seaborne iron ore prices fell on Thursday July 11, with demand weakening because of steel production restrictions in north China.

Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao: $119.37 per tonne, down $1.59 per tonne. Fastmarkets’ index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $119.29 per tonne, down $1.59 per tonne. Fastmarkets’ index for iron ore 62% Fe low alumina fines, cfr Qingdao: $121.12 per tonne, down $1.26 per tonne. Fastmarkets’ index for iron ore 58% Fe fines high-grade premium, cfr Qingdao: $109.89 per tonne, unchanged. Fastmarkets’ index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao: $127.10 per tonne, down $1.30 per tonne. Fastmarkets’ index for iron ore 62% Fe fines, fot Qingdao: 891 yuan per wet metric tonne (implied 62% Fe China Port Price $119.89 per dry tonne), up 1 yuan per wmt. Key drivers Uncertainties about market direction at current high price levels, as well as production restrictions on steelmakers in north China, are dampening interest in spot iron ore buying, sources said. The August...

Published

July Zhang

Alex Theo

July 11, 2019

13:18 GMT

Singapore, Shanghai