IRON ORE DAILY: Physical prices follow futures lower

Seaborne iron ore prices retreated further on Thursday February 27, with many Chinese market participants concerned that the spread of the novel coronavirus (2019-nCoV) outside China and its impact on the ferrous sector within the country remain the biggest factors weighing on prices.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $85.72 per tonne, down $2.38 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $86.64 per tonne, down $2.52 per tonne.
58% Fe fines high-premium, cfr Qingdao: $74.34 per tonne, down $2.03 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $100.20 per tonne, down $1.90 per tonne.
62% Fe fines, fot Qingdao: 652 yuan per wet metric tonne (62% Fe China Port Price: $84.75 per dry tonne), down 22 yuan per wmt.
Key Drivers

“Some steel mills have had to cut production as they are...

Published

Deepali Sharma

Karen Shi

February 27, 2020

12:53 GMT

Singapore