IRON ORE DAILY: Prices plummet with poor ex-China demand outlook hitting top consumer

Seaborne iron ore prices plummeted on Monday March 23, with concerns about ex-Chinese demand took center stage, pushing Chinese participants to recalibrate their outlook on the steelmaking raw material.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $81.07 per tonne, down $6.91 per tonne
62% Fe low-alumina fines, cfr Qingdao: $82.17 per tonne, down $6.98 per tone
58% Fe fines high-grade premium, cfr Qingdao: $70.64 per tonne, down $6.05 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $96.70 per tonne, down $7 per tonne
62% Fe fines, fot Qingdao: 652 yuan per wet metric tonne (62% Fe China Port Price: $84.15 per dry tonne), down 22 yuan per wmt.
Key drivers

Futures prices on the Dalian Commodity Exchange and Singapore Exchange dropped on Monday, with the 62% Fe iron ore contract...

Published

Deepali Sharma

Karen Shi

March 23, 2020

11:05 GMT

Singapore

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