IRON ORE DAILY: Pessimistic demand outlook for steel prompts iron ore price fall

Iron ore prices fell on Wednesday June 16 amid market concerns of weakened demand for steel, which prompted prices to ease as well, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $214.08 per tonne, down $7.79 per tonne
62% Fe low-alumina fines, cfr Qingdao: $216.55 per tonne, down $6.54 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $184.92 per tonne, down $9.68 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $245.00 per tonne, down $5.80 per tonne
62% Fe fines, fot Qingdao: 1,513 yuan per wet metric tonne (implied 62% Fe China Port Price: $221.79 per dry tonne), down by 2 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.6800 per dry metric tonne unit (dmtu), down $0.0050 per dmtu.
Key drivers

The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) was trending lower, ending the...

Published

Alex Theo

June 16, 2021

11:35 GMT

Singapore