IRON ORE DAILY: Prices stay weak amid expectations of steel production cuts

Seaborne iron ore prices edged down on Friday September 10, in expectation of weakening demand due to the potential for further steel production cuts until the end of 2021, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $129.71 per tonne, down $0.55 per tonne
62% Fe low-alumina fines, cfr Qingdao: $130.25 per tonne, down $0.67 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $104.92 per tonne, unchanged $0.00 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $153.00 per tonne, up $2.30 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.0500 per dry metric tonne unit (dmtu), down $0.0100 per dmtu
62% Fe fines, fot Qingdao: 1,000 yuan per wet metric tonne (implied 62% Fe China Port Price: $143.93 per dry tonne), down by 24 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) ended the day 0.3% higher than Thursday’s closing price of 730 yuan ($113) per tonne.

Iron ore forward-month swaps...

Published

Alice Li

September 10, 2021

12:15 GMT

Shanghai