IRON ORE DAILY: Steel mills sound margins concerns

Seaborne iron ore prices dropped further on Friday February 28, with concerns about mills’ margins emerging among Chinese buyers as global macroeconomic sentiment continued to plummet.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $83.96 per tonne, down $1.76 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $85.09 per tonne, down $1.55 per tonne.
58% Fe fines high-premium, cfr Qingdao:
$72.41 per tonne, down $1.93 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $98.60 per tonne, down $1.60 per tonne.
62% Fe fines, fot Qingdao: 636 yuan per wet metric tonne (62% Fe China Port Price: $82.87 per dry tonne), down 16 yuan per wmt.

Key drivers Futures prices on the Dalian Commodity Exchange and Singapore Exchange were down during the day on the persistent risk-averse attitude among traders owing to the uncertain global macroeconomic...

Published

Deepali Sharma

Karen Shi

February 28, 2020

12:06 GMT

Singapore