IRON ORE DAILY: Prices nosedive amid bearish sentiment

Iron ore prices drop drastically on Friday July 30 with market sentiment depressed by worsening demand.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $181.57 per tonne, down by $14.49 per tonne
62% Fe low-alumina fines, cfr Qingdao: $182.80 per tonne, down by $14.66 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $146.61 per tonne, down by $14.26 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $214.40 per tonne, down by $14.80 per tonne
62% Fe fines, fot Qingdao: 1,301 yuan per wet metric tonne (implied 62% Fe China Port Price: $188.13 per dry tonne), down by 50 yuan per wmt
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.4250 per dry metric tonne unit (dmtu), down by $0.0200 per dmtu.
Key drivers

The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) maintained the downtrend from Thursday night’s trading session before ending down by 7.9% from Thursday’s closing...

Published

Min Li

July 30, 2021

11:43 GMT

Shanghai