IRON ORE DAILY: Steelmaker restrictions weigh on demand for seaborne material

Iron ore prices were largely rangebound on Wednesday February 24 due to limited demand from steel mills, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $172.71 per tonne, down $0.34 per tonne
62% Fe low-alumina fines, cfr Qingdao: $173.11 per tonne, down $0.41 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.36 per tonne, down $1.00 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $196.90 per tonne, down $0.40 per tonne
62% Fe fines, fot Qingdao: 1,185 yuan per wet metric tonne (implied 62% Fe China Port Price: $171.06 per dry tonne), down by 10 yuan per wmt
Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) traded largely sideways through the day but began a slight uptick just before the trading session closed, ending...

Published

Alex Theo

February 24, 2021

11:00 GMT

Singapore