IRON ORE DAILY: Seaborne prices sink below $79/t on bearish sentiment

Seaborne iron ore prices fell below $79 per tonne cfr China on Monday November 11 amid worsening market sentiment.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $78.98 per tonne, down $1.13 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $79.01 per tonne, down $1.13 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $78.30 per tonne, down $1.20 per tonne.
58% Fe fines high-premium, cfr Qingdao: $68.50 per tonne, down $0.91 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $89.80 per tonne, down $0.90 per tonne.
62% Fe fines, fot Qingdao: 627 yuan per wet metric tonne (implied 62% Fe China Port Price, $81.84 per dry tonne), down 16 yuan per wet metric tonne.
Key drivers

China’s steel and iron ore futures retreated and then rebounded moderately on the evening of Friday November 8. They largely stayed rangebound on...

Published

July Zhang

November 12, 2019

02:40 GMT

Shanghai