IRON ORE DAILY: Prices correct after Tokyo Steel resumes steel exports to China

Iron ore fines prices were lower across the board on Friday August 21 after news Tokyo Steel will resume exports to China delivered a blow to market expectations for domestic steel production and demand for iron ore.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $127.38 per tonne, down $1.94 per tonne 
62% Fe low-alumina fines, cfr Qingdao: $126.71 per tonne, down $1.88 per tonne 
58% Fe fines high-grade premium, cfr Qingdao: $113.26 per tonne, down $1.69 per tonne 
65% Fe Brazil-origin fines, cfr Qingdao: $135.50 per tonne, down $1.20 per tonne 
62% Fe fines, fot Qingdao: 956 yuan per wet metric tonne (implied 62% Fe China Port Price: $128.29 per dry tonne), down by 4 yuan per wmt
Key drivers
The iron ore futures market on the Dalian Commodity Exchange continued its downtrend that started on Wednesday, with the most-traded January futures contract dropping by 1.3% from a one day earlier.

Meanwhile, iron ore swaps in the Singapore Exchange (SGX) dropped in the afternoon trading session as well, decreasing by over...

Published

Zihao Yu

August 21, 2020

11:55 GMT

Singapore