IRON ORE DAILY: Seaborne prices drop below $95 on declines in futures, steel

Seaborne iron ore prices continued to fall on Thursday September 19 amid retreats in the futures and steel markets.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.23 per tonne, down $3.19 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $93.62 per tonne, down $3.19 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $91.47 per tonne, down $2.96 per tonne. 58% Fe fines high-premium, cfr Qingdao: $81.53 per tonne, down $3.52 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $99.90 per tonne, down $3.10 per tonne. 62% Fe fines, fot Qingdao: 763 yuan per wet metric tonne (implied 62% Fe China Port Price, $99.17 per dry tonne), down 13 yuan per wmt. 63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1550 per dry metric tonne unit, up $0.0300 per dmtu. Key drivers China’s steel and iron ore futures markets fell further on Wednesday night and stayed rangebound on Thursday morning before sinking further in the afternoon. A set of industry data published by a local data provider around noon showed that steel production and inventories have started to increase...


July Zhang

September 19, 2019

15:21 GMT