IRON ORE DAILY: Weak demand continues to dampen seaborne prices

Seaborne iron ore prices continued to fall on Thursday September 16 amid sustained demand weakness, sources told Fastmarkets.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao:
  $107.21 per tonne, down $9.44 per tonne
62% Fe low-alumina fines, cfr Qingdao:  $108.16 per tonne, down $9.64 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $79.65 per tonne, down $8.88 per tonne
65% Fe Brazil-origin fines, cfr Qingdao:  $133.10 per tonne, down $6.00 per tonne
62% Fe fines, fot Qingdao:  875 yuan per wet metric tonne (implied 62% Fe China Port Price: $125.74 per dry tonne), down by 44 yuan per wmt
Key drivers
The most-traded January iron ore futures contract on the Dalian Commodity Exchange (DCE) was on a downtrend, ending down by 3.2% from Wednesday’s closing price of 692.50 yuan ($108) per tonne.

The iron ore forward-month swaps contract on the Singapore Exchange...

Published

Alex Theo

September 16, 2021

12:11 GMT

Singapore