IRON ORE DAILY: Seaborne prices slump amid thin liquidity, soft sentiment

Iron ore prices fell on Thursday July 29 amid thin liquidity and soft market sentiments, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $196.06 per tonne, down $6.62 per tonne
62% Fe low-alumina fines, cfr Qingdao: $197.46 per tonne, down $5.62 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $160.87 per tonne, down $7.36 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $229.20 per tonne, down $5.00 per tonne
62% Fe fines, fot Qingdao: 1,351 yuan ($207.8) per wet metric tonne (implied 62% Fe China Port Price: $194.48 per dry tonne), down by 40 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.4450 per dry metric tonne unit (dmtu), down $0.0100 per dmtu.
Key drivers
Market participants believe that the thin liquidity in the seaborne iron ore market was driven by the soft market sentiment which had prompted both the seaborne prices and Chinese futures to fall.

Published

Alex Theo

July 29, 2021

12:23 GMT

Singapore