IRON ORE DAILY: Seaborne prices fall below $85 per tonne amid uncertain demand

Prices for mid-grade seaborne iron ore slid below $85 per tonne cfr China on Monday November 4, the first time since August 30.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $83.27 per tonne, down $2.29 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $83.09 per tonne, down $2.29 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $82.71 per tonne, down $2.23 per tonne.
58% Fe fines high-premium, cfr Qingdao: $73.19 per tonne, down $1.86 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $93.10 per tonne, down $1.70 per tonne.
62% Fe fines, fot Qingdao: 665 yuan per wet metric tonne (implied 62% Fe China Port Price, $86.62 per dry tonne), unchanged.
Key drivers
China’s benchmark January iron ore futures trended downward throughout the day and ended around 1.7% lower compared with last Friday’s closing price.

The November and December 62% Fe derivative...

Published

July Zhang

Alex Theo

November 04, 2019

11:32 GMT

Singapore, Shanghai