IRON ORE DAILY: Prices inch lower on China's weakening steel market

Seaborne iron ore prices managed to stay above $80 per tonne cfr on Wednesday April 1 despite weakening from a day earlier amid a softening rebar market in China.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $82.49 per tonne, down $0.83 per tonne
62% Fe low-alumina fines, cfr Qingdao: $83.80 per tonne, down $0.28 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $71.48 per tonne, down $1.34 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $97.30 per tonne, down $0.60 per tonne.
62% Fe fines, fot Qingdao: 654 yuan per wet metric tonne (implied 62% Fe China Port Price: $84.39 per dry tonne), down 6 yuan per wmt.
Key drivers

Fastmarkets’ daily price assessment for steel reinforcing bar (rebar) domestic, ex-whs Eastern China fell by 20-30 yuan per tonne during the day to 3,390-3,420...

Published

Karen Shi

Zihao Yu

April 01, 2020

12:00 GMT

Singapore