IRON ORE DAILY: China concern grows over likely diversion of cargoes due to faltering demand elsewhere

Seaborne iron ore prices dipped on Friday March 27 amid mounting concerns that steel production cuts outside China and the subsequent drop in demand for raw materials will lead to the diversion of cargoes to Chinese ports.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao:
$86.36 per tonne, down $0.41 per tonne 
62% Fe low-alumina fines, cfr Qingdao: $87.02 per tonne, down $0.62 per tone
58% Fe fines high-grade premium, cfr Qingdao: $74.81 per tonne, down $0.81 per tonne. 
65% Fe Brazil-origin fines, cfr Qingdao: $101.40 per tonne, down $0.80 per tonne 
62% Fe fines, fot Qingdao: 670 yuan per wet metric tonne (62% Fe China Port Price: $86.61 per dry tonne), up 2 yuan per wmt.
Key drivers

Market participants said that a steel mill in Japan had sold on a Europe-origin pellet cargo to China this week, while...

Published

Karen Shi

Zihao Yu

March 27, 2020

12:49 GMT

Singapore