Demand weakness pressures iron ore prices

Seaborne iron ore prices dropped sharply on Friday November 26 amid weak iron ore demand expectations due to narrowing steel margins, sources said.

Fastmarkets iron ore indices
62% Fe fines, cfr Qingdao: $96.67 per tonne, down $5.68 per tonne
62% Fe low-alumina fines, cfr Qingdao: $97.56 per tonne, down $5.80 per tonne
58% Fe fines high-grade premium, cfr Qingdao: $69.60 per tonne, down $5.31 per tonne
65% Fe Brazil-origin fines, cfr Qingdao: $111.40 per tonne, down $6.50 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.1350 per dry metric tonne unit (dmtu), unchanged

62% Fe fines, fot Qingdao: 649 yuan per wet metric tonne (implied 62% Fe China Port Price: $92.88...

Published

Alice Li

November 26, 2021

11:45 GMT

Shanghai