IRON ORE DAILY: Seaborne prices ease further amid limited trading

Seaborne iron ore prices eased for the second consecutive trading session on Monday August 24 amid limited trading activity, according to trade sources.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $125.23 per tonne, down by $2.15 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $124.78 per tonne, down by $1.93 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $111.21 per tonne, down by $2.05 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $133.60 per tonne, down by $1.90 per tonne.
62% Fe fines, fot Qingdao: 956 yuan per wet metric tonne (implied 62% Fe China Port Price: $128.25 per dry tonne), unchanged.
Key drivers
The market seems to have “cooled off from all the hype” last week, according to a Singapore-based trader.

Some traders believed the cause of the limited trading activity to be the earlier implementation of new processes...

Published

Alex Theo

August 24, 2020

12:05 GMT

Singapore