IRON ORE DAILY: Prices down on news of monitoring, new restrictions

Iron ore prices went down slightly on Friday June 18 on news of state monitoring of the commodities markets, new operational restrictions in Tangshan and market rumors about capacity reductions.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $218.90 per tonne, down by $1.92 per tonne
62% Fe low-alumina fines, cfr Qingdao: $220.24 per tonne, down by $1.77 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $186.30 per tonne, down by $2.18 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $249.40 per tonne, down by $2.10 per tonne
62% Fe fines, fot Qingdao: 1,524 yuan per wet metric tonne (implied 62% Fe China Port Price: $222.28 per dry tonne), up by 10 yuan per wmt.
Key drivers
The price of the most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) fluctuated in the morning then fell near the closing time in the afternoon, ending the day down by 1.7% from Thursday’s closing price of 1,223.50 yuan ($190) per tonne.

The most-traded...

Published

Min Li

June 18, 2021

12:25 GMT

Shanghai