IRON ORE DAILY: Prices fall with steel production limit in some Chinese provinces

Iron ore prices fell on Wednesday July 21 due to steel production cuts in some Chinese provinces for the second half of 2021, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $214.79 per tonne, down $6.25 per tonne
62% Fe low-alumina fines, cfr Qingdao: $216.17 per tonne, down $6.85 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $176.44 per tonne, down $5.83 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $249.10 per tonne, down $6.80 per tonne
62% Fe fines, fot Qingdao: 1,452 yuan ($223.88) per wet metric tonne (implied 62% Fe China Port Price: $209.96 per dry tonne), down by 32 yuan per wmt
Key drivers
The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) decreased sharply after opening and ended down by 4.8% from Tuesday’s close of 1,233 yuan per tonne.

The most-traded August iron ore forward-month swap contract on the Singapore Exchange (SGX) also fell. By 6:11pm Singapore time, it...

Published

Zihao Yu

July 21, 2021

10:59 GMT

Singapore