IRON ORE DAILY: Steep plunge for seaborne prices amid expectations of weaker steel demand

Iron ore prices fell sharply on Friday May 14 amid concerns over weakened steel demand, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $208.79 per tonne, down by $28.78 per tonne
62% Fe low-alumina fines, cfr Qingdao: $211.19 per tonne, down by $28.81 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $179.29 per tonne, down by $27.93 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $241.70 per tonne, down by $26.10 per tonne
62% Fe fines, fot Qingdao: 1,439 yuan per wet metric tonne (implied 62% Fe China Port Price: $208.96 per dry tonne), down by 234 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.5100 per dry metric tonne unit (dmtu), up by $0.0500 per dmtu.
Key drivers

The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) stayed largely flat at the opening...

Published

Alex Theo

May 14, 2021

11:50 GMT

Singapore