IRON ORE DAILY: Seaborne prices dip on futures, rebar losses

Seaborne iron ore prices weakened on Tuesday December 3 amid losses in futures and rebar markets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $88.31 per tonne, down $0.14 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $87.40 per tonne, down $0.14 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $88.20 per tonne, down $0.12 per tonne.
58% Fe fines high-premium, cfr Qingdao: $75.24 per tonne, down $3.15 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $99.70 per tonne, down $0.30 per tonne. 
62% Fe fines, fot Qingdao: 663 yuan per wet metric tonne (implied 62% Fe China Port Price, $86.23 per dry tonne), up 8 yuan per wet metric tonne.
Key drivers
China’s rebar futures declined during the day and the spot prices of the finished product also sank 20-40 yuan ($2.80-5.70) per tonne.

The benchmark January iron ore contract on...

Published

July Zhang

December 03, 2019

12:00 GMT

Shanghai