Seaborne iron ore prices show correction amid easing supply tightness

Iron ore export volumes from Australia were up by 7.3% year-on-year to 38.14 million tonnes in August 2019, data from the Pilbara Ports Authority (PPA) showed on Friday September 6, explaining the correction seen in prices last month.

And a month-on-month comparison showed an increase of 10.5% from 34.53 million tonnes exported in July.

As a result of the easing of supply tightness, iron ore prices were starting to show signs of a correction. Fastmarkets’ index for iron ore 62% Fe fines, cfr Qingdao, averaged $90.69 per tonne in August, down by 24.4%...

Published

Alex Theo

September 06, 2019

13:30 GMT

Singapore