IRON ORE DAILY: Prices soften amid futures losses, FMG widens low-grade adjustments

Physical iron ore prices weakened on Tuesday September 17 amid losses in the futures markets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $97.17 per tonne, down by $1.28 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $97.56 per tonne, down by $1.28 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $96.13 per tonne, down by $0.81 per tonne.
58% Fe fines high-premium, cfr Qingdao: $84.56 per tonne, down by $1.92 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $103.90 per tonne, down by $1.40 per tonne.
62% Fe fines, fot Qingdao: 774 yuan per wet metric tonne (implied 62% Fe China Port Price, $100.95 per dry tonne), down by 11 yuan per wmt.
Key drivers
China’s steel and iron ore futures largely trended downward during the day, despite a moderate uptick before the 3pm close. The benchmark iron ore contract ended 1.8% lower than Monday’s settlement level.

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Published

July Zhang

September 17, 2019

13:38 GMT

Shanghai