IRON ORE DAILY: Prices retreat on growing coronavirus concerns

Seaborne iron ore prices dropped on Wednesday February 26 amid burgeoning concerns over the spread of the novel coronavirus (2019-nCoV) outside China and its impact on the global economy.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $88.10 per tonne, down $2.73 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $89.16 per tonne, down $2.68 per tonne.
58% Fe fines high-premium, cfr Qingdao: $76.37 per tonne, down $2.21 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $102.10 per tonne, down $2.70 per tonne.
62% Fe fines, fot Qingdao: 674 yuan per wet metric tonne (implied 62% Fe China Port Price: $87.81 per dry tonne), down 1 yuan per wet metric tonne.
Key drivers
Futures prices on Dalian Commodity Exchange and the Singapore Exchange tumbled on Wednesday, a sign that risk aversion continued to grow among traders.

Equities markets in Asia fell on Wednesday...

Published

Deepali Sharma

Karen Shi

February 26, 2020

11:35 GMT

Singapore