IRON ORE DAILY: Seaborne prices dip to $85 amid weak sentiment

Seaborne iron ore prices continued to retreat on Monday October 21 to just above $85 per tonne cfr China amid pessimism about prices and margins.

Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $85.40 per tonne, down by $0.96 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $85.05 per tonne, down by $0.35 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $84.24 per tonne, down by $0.69 per tonne. 58% Fe fines high-premium, cfr Qingdao: $75.25 per tonne, down by $0.23 per tonne. 65% Fe Brazil-origin fines, cfr Qingdao: $93.60 per tonne, down by $1.30 per tonne. 62% Fe fines, fot Qingdao: 685 yuan per wet metric tonne (implied 62% Fe China Port Price, $88.69 per dry tonne), unchanged. Key drivers Chinese steel and iron ore futures slipped on Monday morning and largely stayed weak for the rest of the day’s trading session. The November 62% Fe contract of iron ore derivative on the Singapore Exchange also traded moderately lower...

Published

July Zhang

Alex Theo

October 21, 2019

13:00 GMT

Shanghai, Singapore