IRON ORE DAILY: Prices tumble on steel weakness, Tangshan output restriction jitters

Physical iron ore prices dropped on Wednesday October 9 amid soft steel markets and demand concerns over the potential for more steelmaking restrictions in China.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao:
 $91.06 per tonne, down $3.71 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $90.34 per tonne, down $3.71 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $89.75 per tonne, down $3.75 per tonne.
58% Fe fines high-premium, cfr Qingdao: $80.16 per tonne, down $2.93 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $96.70 per tonne, down $4 per tonne.
62% Fe fines, fot Qingdao: 754 yuan per wet metric tonne (implied 62% Fe China Port Price, $97.13 per dry tonne), down 5 yuan per wmt.
Key drivers

China’s iron ore...

Published

July Zhang

October 09, 2019

13:30 GMT

Shanghai