IRON ORE DAILY: Seaborne market weakens amid muted buying, lower port prices

Seaborne iron ore prices largely softened on Tuesday December 24 amid low buying interest, given cheaper alternatives in the port market.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $91.03 per tonne, down $0.30 per tonne.
62% Fe Pilbara Blend fines, cfr Qingdao: $90.12 per tonne, down $0.30 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $91.39 per tonne, up $0.06 per tonne.
58% Fe fines high-premium, cfr Qingdao: $77.88 per tonne, down $1.21 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $102.30 per tonne, down $0.30 per tonne. 
62% Fe fines, fot Qingdao: 675 yuan per wet metric tonne (implied 62% Fe China Port Price, $88.22 per dry tonne), up 1 yuan per wet metric tonne.
Key drivers
Seaborne iron ore market liquidity stayed low, with no deal heard concluded during the day, and some participants were already off for the Christmas holiday.

Seaborne prices generally remained higher than at Chinese ports, so...


July Zhang

December 24, 2019

11:50 GMT