IRON ORE DAILY: Seaborne prices follow futures downturn amid rising China-US trade tensions

Seaborne iron ore prices fell on Friday July 24, following a downturn in the futures market amid growing concerns over escalating tensions between China and the United States.

Fastmarkets iron ore indices 
62% Fe fines, cfr Qingdao: $109.39 per tonne, down $0.73 per tonne. 
62% Fe low-alumina fines, cfr Qingdao: $111.56 per tonne, down $1.24 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $97.56 per tonne, down $2.01 per tonne. 
65% Fe Brazil-origin fines, cfr Qingdao: $120.80 per tonne, down $0.60 per tonne. 
62% Fe fines, fot Qingdao: 846 yuan per wet metric tonne (implied 62% Fe China Port Price: $111.67 per dry tonne), down by 19 yuan per wmt.
Key drivers
The iron ore futures market lost ground at the close on Friday after a downturn throughout the whole trading session, with the Dalian Commodity Exchange's most-traded September futures contract down by 2.1%.

A similar fall took place in iron ore swaps in the Singapore Exchange, where the most-traded...

Published

Zihao Yu

July 24, 2020

13:57 GMT

Singapore