IRON ORE DAILY: Weaker sentiment prompts downtrend in seaborne prices

Seaborne iron ore prices remained on a downward trend on Thursday September 17 amid weaker market sentiment, trade sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $122.36 per tonne, down $1.84 per tonne.
62% Fe low-alumina fines, cfr Qingdao: $122.59 per tonne, down $1.81 per tonne.
58% Fe fines high-grade premium, cfr Qingdao: $112.28 per tonne, down $2.22 per tonne.
65% Fe Brazil-origin fines, cfr Qingdao: $135 per tonne, down $2.80 per tonne.
62% Fe fines, fot Qingdao: 934 yuan per wet metric tonne (implied 62% Fe China Port Price: $128.14 per dry tonne), down by 3 yuan per wmt

Key drivers
The most-traded January contract in the Chinese iron ore futures market on the Dalian Commodity Exchange (DCE) eased by around 0.8% from the previous day’s closing price.

The most-liquid October and November contracts for 62% Fe swaps on the Singapore Exchange (SGX) also declined by around $1.70 per tonne and $1.60 per tonne respectively compared with the...

Published

Alex Theo

September 17, 2020

11:10 GMT

Singapore