IRON ORE DAILY: Prices dip in line with fall in finished steel, China's pledge to cut 2021 crude steel output

Iron ore prices dipped on Monday March 1, in line with finished steel prices, with sentiment potentially affected by the Chinese government’s commitment to reduce emissions by cutting crude steel output in 2021, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $174.55 per tonne, down $1.23 per tonne
62% Fe low-alumina fines, cfr Qingdao: $174.96 per tonne, down $1.31 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.09 per tonne, down $1.65 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $198.00 per tonne, down $1.40 per tonne
62% Fe fines, fot Qingdao: 1175 yuan per wet metric tonne (implied 62% Fe China Port Price: $169.27 per dry tonne), down by 20 yuan per wmt
Key drivers

The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) increased sharply...

Published

Zihao Yu

March 01, 2021

11:14 GMT

Singapore