IRON ORE DAILY: Seaborne prices rangebound, China production curbs weigh on futures prices

Seaborne iron ore prices were largely muted on Monday December 16, while uncertainty on air-quality related production cuts in Tangshan, China, caused a dip in Chinese futures during the day’s trading session.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $94.04 per tonne, down $0.59 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $93.13 per tonne, down $0.59 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $93.67 per tonne, down $0.68 per tonne.
58% Fe fines high-premium, cfr Qingdao: $81.61 per tonne, up $0.21 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $104.30 per tonne, down $0.20 per tonne.
62% Fe fines, fot Qingdao: 683 yuan per wet metric tonne (implied 62% Fe China Port Price, $89.83 per dry tonne), unchanged.
Key drivers

There was a short rally in the benchmark May iron ore contract on the Dalian Commodity Exchange during the Monday morning trading session, but settled into a general downward trend for the rest of the day, ending around 1.3% lower from the previous...

Published

Alex Theo

December 16, 2019

11:52 GMT

Singapore