IRON ORE DAILY: Prices dip below $88/t on futures, steel decline

Physical iron ore prices generally weakened on Wednesday November 27 amid further losses in futures and steel markets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $87.56 per tonne, down $1.74 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $87.59 per tonne, down $1.74 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $87.03 per tonne, down $1.68 per tonne.
58% Fe fines high-premium, cfr Qingdao: $77.32 per tonne, down $0.93 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $99.60 per tonne, down $1.70 per tonne. 
62% Fe fines, fot Qingdao: 661 yuan per wet metric tonne (implied 62% Fe China Port Price, $86.01 per dry tonne), down 1 yuan per wet metric tonne.
Key drivers

China’s steel and iron ore futures continued to soften on the day, with the benchmark iron...


July Zhang

November 27, 2019

12:05 GMT